Nummo announced on Tuesday it secured $1.9 million in seed funding and officially launched its personal finance management platform. Founded in 2016, Nummo describes itself as a personal financial management platform that empowers its users to live better by helping them manage, maintain and improve your financial health.
“We consolidate and analyze your financial situation. We help you understand your finances and provide you with conflict-free options to choose from. Lastly, we give you the tools to better understand your personal finances and optimize them. We do this through consolidation, analysis and financial education – empowering you to live better.”
The seed funding comes after Nummo raised $700,000 USD in a friends and family round. The funds from the seed round will be utilized to further expand operations along with U.S. market penetration, application support efforts and next stage product development. In addition, Nummo expects to open U.S. headquarters in early 2019. Along with the launch of the platform, Nummo also revealed it has created an advisory council. Roi Y. Tavor, co-founder and CEO, Nummo, added:
“At Nummo, we have worked hard to create a platform that makes it easy for people to aggregate their bank accounts to help better understand and manage their finances. Our goal is to help simplify and shift the money mindset. This funding enables us to expand our offerings. We are also very excited to be working with two such high caliber advisors as Lawrence Baxter and Mac Lackey. The experience and insight they bring will contribute to the next phase of our growth.”