Experian invests in German fintech start-up

Berlin-based fintech start-up Bonify has announced new investments from Experian Ventures, the venture capital arm of Experian plc, and Santander InnoVentures. A number of other investors also participated in the investment round.

Bonify, founded in June 2015, is dedicated to improving the financial lives of its users, the company users can check their creditworthiness online at any time and free of charge and gain insight into their creditworthiness and financial data. In addition, its 500,000 users can use various financial management tools to analyse and optimise their own financial situation.

The new funding will enable Bonify to further enhance its product offering and accelerate its growth. The investors will support the company with resources and know-how to become one of the largest FinTech companies in Europe.

Founder and CEO of Bonify, Dr. Gamal Moukabary said “Experian’s investment shows that we are on the right track. It rewards our achievements and our unique value proposition. Experian is an ideal investor and partner for us to support the next growth phase. Our goal is to expand our operations into other European countries.”

Charles Butterworth, Managing Director Experian UK, Ireland and EMEA, said “We are excited by the way Bonify is helping people in Germany understand, engage with and improve their credit scores. We look forward to supporting the team as an investor and partner in their future growth.”

Manuel Silva Martínez, Partner and Head of Investments, Santander InnoVentures, said “We are delighted to welcome Experian Ventures to Bonify. Experian will add tremendous value and technical expertise to Bonify’s product roadmap. We are thrilled to support Bonify as we accelerate growth and help more and more people across Germany and Europe with taking control of their finances in a sound and responsible way.”

In addition to Experian Ventures, Santander InnoVentures (SIV) and DN Capital other existing investors are also increasing their investments in Bonify. SIV led the last financing round in November 2018, in which the existing investors Mosaic Ventures and Ribbit Capital also participated.