Berlin based banking app developer Kontist has raised €2m in seed funding led by Founders and Vækstfonden. The company intends to use the funds to continue to develop its app.
Co-founded in early 2016 by Christopher Plantener, Alexander Baatz, Sebastian Galonska and Madison Bell, Kontist aims to create a bank account for freelance businesses. Set to launch early in 2017, Kontist implements high safety standards and never shares any of the user’s information without permission. All of the data is encrypted, and sensitive account actions (like wire transfers, or changing account information) are secured with two-factor authentication. Deposits are secured by the European deposit fund and are safe up to €100k, which is the standard for all European credit institutions.