Fintech startup Bling is on a mission to improve access to financial education, for the whole family. Based in Berlin, the team has now picked up fresh funding, just 6 months after launching.
As talk of a global financial crisis hits the headlines and we all start to pinch our pennies, it’s become clear just how important it is to be financially savvy. Inflation is rising and for some years now, the younger generation has been on the back foot when it comes to financial know-how. As a result, a number of different platforms and apps have sprung up, aiming to make it easier and simpler for people to save, invest, and become more money-wise.
Now, there’s a new player on the block and it wants to help the whole family to become more financially literate, starting with kids. Bling, founded by young entrepreneur Nils Feigenwinter in 2021, has just secured fresh funding to expand.
“We are the first digital banking touchpoint across all generations and kinds of users”
The details
- €3.5 million raised in a round led by Peak and La Famiglia
- Angel Invest, IBB Ventures and Prediction Capital are also participating
- Includes business angels Lea-Sophie Cramer, Felix Haas (Co-Founder, IDNow), Jakob Schreyer (Co-Founder Orderbird), and former ING-Diba CEO Ben Tellings, family influencer Carmen Kroll
Nils Feigenwinter: “For decades, families have been neglected as a target group. We are changing that. Our products are centered around family development. And with our new savings plan, beginning at birth and extending into teenhood, we prepare to push this strategy further.”
A family fintech
Launched just 6 months ago, Bling offers a family banking solution where children can gain independence by learning financial responsibility through educational content and their own payment card. The concept is well-received by users, with thousands of families using Bling’s services and more than 10,000 children using a Bling card as their first personal payment experience, all within the first few months after launching.
Madeline Lawrence from Peak: “Only a few years older than their user group, Nils and Leon uniquely understand the needs of children, parents, and the family unit overall. They can crack the market where other silver-haired competitors have stalled. It’s the ultimate ‘ok boomer.’”
Based in Berlin, the young company is aiming to capture a multibillion-euro market. The family segment has the highest purchasing power of any demographic – in retail banking, over 25% of European customers are parents with young children. Yet, until now, there hasn’t really been a tailored product for them.
Feigenwinter: “Every second family recommends Bling to other families. Families are networks. By starting with the child and parent unit, we grow to involve the whole family tree from grandparents, godparents, and friends. These are network effects in action.”
With this funding, Bling will accelerate growth and quickly expand its offerings.
Judith Dada, General Partner at La Famiglia: “The Bling team has exceeded expectations. With the investment, we underline our conviction in strengthening the financial literacy of children and teenagers.”
Peak’s Managing Partner Stefan Bary: “Pocket money was just the beginning. With a wider family fintech, Bling can empower families and promote financial independence.”
