04.07.24- Cashbee raises 7.5 million euros.
Cashbee completes a fundraising round of 7.5 million euros.
The mobile savings platform Cashbee raises 7.5 million euros to develop its savings offerings and strengthen its technology.
Cashbee announced the successful completion of a 7.5 million euro funding round (following an initial raise of 1.1 million euros), aimed at better meeting the financial needs of French savers and enhancing their financial experience directly from their smartphones.
The funding round was led by MIF (Mutuelle d'Ivry La Fraternelle) with participation from several of their longstanding shareholders, including 115K from La Banque Postale's investment fund.
With a rapidly growing portfolio that includes 12,000 clients and manages a total of 400 million euros, Cashbee targets both individuals (making up 80% of its clientele) and professionals through its Cashbee Pro offering, which provides a profitable solution for corporate treasury management. "In this vast savings market, we currently have only a small share. Our ambition is to attract more French savers, whether individuals or professionals, by offering them increasingly personalized advice," explained Cashbee's co-founder.
To achieve this goal, the startup's strategy is clear: to enhance the financial literacy of their users and double the size of their advisory teams to support savers in managing their personal finances.
So, why this funding round?
These funds will serve three specific purposes:
- Expand the range of investment solutions while adhering to their principles of simplicity and responsibility.
- Continuously improve the user experience, aiming for simplicity through enhanced technology.
- Strengthen personalized investment advice and support for users/investors.
- This strategic funding round positions Cashbee to further innovate in the financial services sector, aiming to provide comprehensive and user-friendly solutions to a growing client base in France.
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