Qapital, the Sweden-founded banking app for millenials, gets $4.5M in funding in a partial venture round.
Qapital, a Sweden-founded/USA-based mobile banking app for millenials, raised $4.5M in a round that is part of a larger one.
Qapital was founded in 2012 by George Friedman, who also acts as a company's CEO. The company provides a banking service that helps millennials to save and spend in a smart way, and also offers a pre-paid debit card, a personalized mobile app with finance and budgeting features, and with the security of FDIC-backed savings.
Qapital is now managed from New York, in the United States, as its main focus is the North American market. Prior to this round, Qapital received a total of about $3M in investment funding, with the latest round in February 2016. With that occasion, Qapital announced that American economist Dan Ariely had joined the company as Chief Behavioral Economist.