Emma, a London-based money management and banking app for millennials, has received $2.5 million in funding. The round was led by venture capital investor Connect Ventures, and others.
The fintech startup has created an iOS and Android banking app to help its millennial users avoid overdrafts, find and cancel subscriptions, track debt and save money. Emma currently boasts more than 200,000 users across three countries and is now looking to attract one million.
“This investment will allow us to double our team, bring 1 million people to Emma and build the next plethora of incredible features,” wrote co-founder Edoardo Moreni in a blog post announcing the latest fundraise.
“I want to use this opportunity to thank not only the people who have invested in us, but also those early adopters who helped testing, building and shipping the first versions of Emma.”
Launched in the UK in early 2018, Emma previously raised $700,000 in angel funding and is now backed by Ithaca Investments, Tiny.vc and Aglaé Ventures.