UK-based banking app Emma Technologies has closed a new funding round led by Kima Ventures, which supports the growth of new startups.
Targeting the young millennials, the banking app aims to improve the financial situation of the users by enabling them to manage debt, save money as well as prevent overdrafts.
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It aims to reduce the burden of money management among the users, who generally have multiple accounts, different credit cards and several contracts, by offering all personal finance information swiftly.
The new funding will be used to support these initiatives.
Emma Technologies CEO and co-founder Edoardo Moreni said: “We started Emma with the aim to democratise the figure of the private wealth manager.
“In an age where a new financial product comes to the market every week, consumers are destined to get lost in a financial chaos.
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By GlobalData“We believe they deserve a financial advocate with the goal of driving them through the difficult financial challenges that life presents. This round is the first step to fully achieve our mission.”
Kima Ventures deal partner Rose Dettloff said: “Kima Ventures is glad to have Emma as part of its family and looks forward to support future growth and developments.”
Emma Technologies banking app is available on iOS and Android platforms.
