Qapital secures $12M in series A funding.

Sweden Investments 06 March 2017
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Qapital, a Swedish fintech startup based in New York and Stockholm, announced a $12M investment round in series A funding. Part of this funding, $4.5M was announced and made at the end of 2016.

Backers include Northzone, Anthemis Exponential Ventures, Industrifonden and Rocketship VC and the money will be used to strengthen the platform and lay the groundwork for disrupting the retail banking sector.

Qapital, founded in 2012 by George Friedman and Erik Akterin provides an easy-to-use, daily money management application that allows its users to organize their finances in a single place by connecting with their online accounts. The tech stack leverages behavioral economics to bridge the gap between intention and action when it comes to money management while the app’s goal-driven approach encourages users to save for things they aspire for by turning everyday habits and guilty pleasures into opportunities to save.

Prior to this investment, Qapotal raised a little more than $11M in external funding.