Bling raises €10 million from Goodwater Capital

Bling, a Paris, France based startup building a business around a micro-credit platform via a mobile app, announced that it closed a €10 million ($11.9M) capital funding round.

The money was raised from a range of investors from France, including Goodwater Capital, Secocha Ventures, Bpifrance and a range of angel investors.

Proceeds will be used as the company aims to launch its service in Italy, Portugal and Belgium by the end of 2021.

Bling, founded in 2019 by Benjamin Daudignac, Pierre-Eloi Acar, Roland Jais Nielsen, developed a mobile app that provides micro loans almost instantly. The loans are based on an application that combines data from scoring algorithms and open banking access in order to assess the financial risk. Bling's app also has perosnal budgeting features, and notifies users about the anti-overdraft alerts, direct bank balance, while making cash flow predictions.

The app is available currenty in France and Spain and has about 500,000 users, half of which have been granted total funding of €15 million.