The Investment Corporation of Dubai (ICD) has invested in Centralway Numbrs. The Zurich-based Fintech company has now secured total investment capital of USD 125 million, revealed a statement. Behind the investment is a company valuation around the upper three-digit millions mark.
Centralway Numbrs developed a multi-banking app, which allows users to manage their banking transactions. They can also use the app to apply for credit cards, with a chat function supporting them through the application process. Meanwhile, an anonymous data evaluation tool suggests different products to customers. With its offering, Centralway Numbrs has presented traditional financial institutions with a new sales channel.
The company’s app has already been downloaded 1.5 million times in Germany, making it the most popular banking app in the country. With the new investment from Dubai, Centralway Numbrs has revealed it intends to expand into new markets. The company aims to become the world’s leading mobile platform for financial services.
ICD is the principal investment arm of the Emirate of Dubai. It was founded to consolidate and manage the Dubai government’s portfolio of commercial companies and investments.
“As ICD continues its geographic and sectorial diversification, our exploration of opportunities for investment in the next frontiers of innovation for global growth have naturally led us to Centralway Numbrs, where in our assessment we will be well positioned to leverage the opportunities in the advent and growth of fintech,” commented His Excellency, Mohammed Al Shaibani, CEO of ICD.
