Berlin based credit scoring startup Bonify has raised €5.5m in Series A funding led by Mosaic Ventures and Ribbit Capital. Bonify is a unique platform that offers easy to read credit-reports, allows users to check and correct their scores, monitor changes, and receive tips on how to optimize their scores. It’s state-of-the art Personal-Financial-Management-Tool (PFM) helps users manage their money with an easy overview of income and spending.
Since launching in April 2016 bonify has grown rapidly, delivering 150,000 credit reports with 70 - 80% of users choosing to upload their account details and make use of the financial management tools. The new funding will allow the company to improve the proprietary technology behind its platform, grow its user base and offer customers access to an even more tailored service. bonify’s mission remains the same: to educate consumers about the importance of their credit score and help them take control of their personal finances. "At bonify we want our users to always make the best possible financial decisions. This starts with transparency - through free personal credit scores. Our goal is to educate consumers on the importance of that credit score and how best to keep track of it." said Gamal Moukabary, founder and CEO of bonify.