French fintech startup Yomoni, an online banking and wealth management service that utilizes robo-advisers, raised €5 million from Crédit Mutuel Arkéa and Iéna Venture.

The startup is using the new funds to expand their team. It also plans to launch a new product geared toward parents who want to save money for their chidren in February 2017.

Yomoni currently has around 2,000 clients, and plans to make money based on fees of about 1.6 percent a year.

Read more: TechCrunch

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