Personal finance management company CoinKeeper raised seed funding of $1.7 Mn led by the MTS Corporation. MTS is one of the largest mobile corporations in Russia. The funding will be used for marketing and product development and also an expansion in the European markets. CoinKeeper manages personal finances and has over 350,000 users. CoinKeeper is available through the application (on Android and iOS) as well as the website.
CoinKeeper a part of i-Free Company, was founded by Ilya Chernetskiy in 2011. i-Free is a Russian company that focuses on developing innovative projects in the technology sector. They have invested in 13 companies and startups and have closed around 14 M&A deals. i-Free has subdivisions located in China, India, Ukraine, Belarus and Kazakhstan.
CoinKeeper can help users keep a track of their card expenses by securely importing the transactions from the banks. The platform issues a detailed expense report allowing the users to understand and keep their spending in limits. The platform notifies the user to keep the spending in the limit. The premium feature of CoinKeeper allows users to maintain a family budget independently or jointly. CoinKeeper also has a bank card option which will be available on the application in partnership with Ak Bars Bank of Russia. The bank stands in the Top 20 banks of Russia. Thus, the card is available for top-ups, connecting to Google/Apple Pay and for making any online or offline purchases.
Everyone needs a budget to limit the overspending and therefore, this platform is definitely the answer for it. People can customize their spending limits based on categories, thus allowing them to understand where they can cut the expenses from next time. The platform will certainly be helpful for college students as it helps them to save more money. This platform is an easy option rather than bookkeeping as it allows users to view their profile anytime and anywhere.
Sources: Market Screener
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