New York-based Tiger Global Management has led the group of investors backing FairMoney’s Series B round. Between them, the investors are providing the mobile banking platform with $42 million which it has earmarked to broaden its offering and add savings products, stock trading products, and, eventually, crypto trading products to its line-up.
Among the investors participating in the round, several – DST Partners, Flourish Ventures, Newfund, and Speedinvest – had been investors in the firm’s earlier rounds. Having launched in 2017, FairMoney raised €1.2 million in seed capital in 2018, followed a year later by an additional €10 million for its Series A round. Neither the size of stakes held by its investors nor the valuation of the firm have been disclosed.
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