Bonify, a leading German FinTech start-up and credit score platform, secures 7-digit Media for Equity investment from German Media Pool
Europe’s leading independent Media for Equity fund German Media Pool today announced its new investment in Berlin based FinTech start-up bonify. German Media Pool invested a 7-digit media budget into the fast-growing credit score platform. Next to German Media Pool, also the ProSiebenSat.1 Accelerator supports bonify with a significant media investment.
Bonify, founded in June 2015 by Dr. Gamal Moukabary and Dr. Andreas Bermig, is dedicated to improving the financial lives of its users. With bonify, users can check their credit score online at any time, free of charge and gain insight into their creditworthiness and financial data. In addition, bonify offers its more than 850,000 users various financial management tools to analyse and optimize their own financial situation. Based on the user’s financial situation and creditworthiness, bonify is able to show individualized loan offers to the users. In the last years, other renowned investors such as Experian, Santander InnoVentures, Mosaic Ventures, Ribbit Capital, Index Ventures and DN Capital as well as the founders of Zalando and Raisin have already invested in bonify.
The invested media budget will enable bonify to build a stronger brand in Germany and accelerate its growth by reaching new customers.
Dennis Ahrling, Investment Manager, German Media Pool
“We are happy to support bonify in the exciting times ahead. Using the right media outlets and advertising channels, bonify will be able to establish its brand in Germany and help even more customers understand and manage their credit scores.
A bad credit score can make a lot of things in life unnecessarily hard, such as getting a loan, renting an apartment or even getting a phone contract. However, many consumers do not know or even understand their credit score. Bonify does not only calculate your credit score, but also advises on concrete measures to improve your score. Bonify is like a personal trainer for your finances.”
Dr. Gamal Moukabary, CEO & Co-Founder of bonify
"We are very excited to have German Media Pool on board as a new investor. It rewards our success helping hundreds of thousands of German consumers to gain better insight into their financial health, as well as offering them better choices. And it rewards our unique business model in continental Europe. The partnership with GMPVC enables us to achieve our ambitious growth goal and provide our free services to millions of users.
Unfortunately, personal creditworthiness is still a black box for the majority of consumers. With our TV campaign, we are pursuing our mission to educate millions of German customers about the importance of their credit score."
The FinTech start-up bonify enables consumers to gain transparency on both credit score as well as on financial situation. bonify enables users to check their credit score online at any time and free of charge. In addition, bonify offers various financial management tools for the analysis and optimization of their financial situation. Based on this, users receive product offers tailored to their own creditworthiness - including loans and offers for gas, electricity or DSL. Other free products include "tenant information" for finding accommodation, "FinFitness" for assessing and actively improving financial health and the "savings radar" with individual savings offers. bonify was founded in Berlin in 2015 and is managed by Dr. Gamal Moukabary (Founder & CEO), Dr. Andreas Bermig (Founder & CFO), Frank Stowasser (VP Marketing) and Sarah Schuster (VP Growth & Customer Engagement). The startup currently employs more than 30 people from more than 15 nations. Renowned investors such as Experian, Santander InnoVentures, Mosaic Ventures, Ribbit Capital, Index Ventures and DN Capital as well as the founders of Zalando and Raisin have so far invested in bonify. bonify is an account information service approved and supervised by the German Federal Financial Supervisory Authority (BaFin). Learn more at www.bonify.de
Based in Berlin, GMPVC German Media Pool is Germany's leading independent media for equity investor, connecting media groups to high growth ecommerce and consumer companies. GMPVC partners with TV, radio, out of home and print partners and has invested more than €250million in gross media volume in more than 50 investment rounds into 30 start-ups. GMPVC currently counts 17 successful exits and 2 IPOs, with more to come. German Media Pool’s investments include the unicorn fashion shop ABOUT YOU, the digital car insurance FRI:DAY, the fast growing Insurtech Clark and many more. More information about German Media Pool can be found on www.gmpvc.com
About Media for Equity
Media for Equity deals are different to common venture cases, as instead of cash, the start- up receives advertising space in return for equity in the company. This way, instead of spending money on offline marketing, the start-up can use their financial resources to improve other aspects of their businesses without having to forfeit advertising potential.