A German family money management app founded by a “fintech wunderkind" has acquired a German financial learning app for teenagers and adults. Berlin-based Bling, founded in 2021, is an app designed to help parents carry out financial planning for their children.
It provides educational, digital solutions in the areas of payment, investment, and mobile communications and bills itself as a “family-friendly” fintech.
The app offers users a prepaid card and says it has 250,000 active family users and has been downloaded more than one million times.
It also offers “child-friendly” mobile phone plans and practical tools such as shopping lists, family calendars, and tutoring services to simplify family life.
Bling, which last year raised $12m, has raised more than $15m and is backed by La Famiglia, PEAK, Angel Invest and Commerzbank Group's VC, Neosfer.
It was founded by twentysomething Nils Feigenwinter, who has earned the nickname "fintech wunderkind (wonderkid)" in German media outlets, having previously started three youth-oriented startups, including a Swiss student magazine and a consultancy for young adults.
Bling has now acquired Hamburg-based Finstep, founded in 2022, a financial learning app for teenagers and young adults, which offers users “interactive missions” on topics like inflation, investing and taxes.
Finstep, which has less than 10 employees and focuses on the B2B market, has around 30,000 users and collaborates with banks.
Bling says that Finstep is a “perfect strategic fit", aligning with its mission to promote financial literacy among the young.
Financial details haven’t been disclosed.
Nils Feigenwinter, managing director, co-founder of Bling, said: "With the Bling pocket money card and app, children and young people are already learning how to handle money very effectively.
"The Finstep content will therefore fit perfectly into our app and help make young people in Germany financially wise”
Christian Binder, founder and managing director of Finstep, said: "With the integration into Bling, we are seamlessly continuing our mission of strengthening young people's financial literacy – strengthened by the reach and platform that Bling has built. Finstep and Bling are two pieces of the puzzle that fit together very well."
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