Local Fintech Startup to Fuel Global Ambition with US$1.6 Million from Vectr Venturesby Fintech News Hong Kong January 30, 2019
gini, a Hong Kong-based smart spending-tracker announced that it has completed its seed round with a $1.6 million investment from both international institutions and Hong Kong-based Vectr Ventures, the early stage fintech venture capital firm.
The co-founders, CEO Raymond Wyand and COO Victor Lang revealed the funding will support a global roll out plan; and help with gini’s aim to be compatible with over 3,000 overseas banks in 60 countries by the second half of 2019. They’ll be starting with approximately 60 banks across Hong Kong, France, Switzerland and the UK.
Raymond Wyand continued to say:
“We are Hong Kong based, but the plan was never to launch an app only for the Hong Kong market.
“We live in a globalised world. Ultimately, our goal is to build a truly worldwide financial marketplace, to service not just a user’s home market but make managing money across markets accessible and easy for anyone to do. This new seed round allows us to start making that vision a reality, and we have a strong new partner in Vectr who shares our passion and believes in our vision.”
Mark Munoz, Managing Partner, Vectr Fintech Partners said:
“gini is solving a pressing problem we all have when accessing and making sense of our personal financial information. We’re excited that the app is leading in Hong Kong and is adaptable to overseas markets.”
Gini’s soft launch in March 2018 saw it gaining more than 20,000 users in Hong Kong and has handled over HKD 6 billion in transactions so far.
The first batch of available countries includes the United Kingdom (38 institutions), and France (11 institutions) and Switzerland (6 institutions) based on current user demand, with more banks to be added in the first half of 2019.