Austria-based fintech startup fynup has announced receiving a cash injection.
According to a fynup representative, the companies aim to stimulate growth in order to prepare for the next big step, which is an expansion to Germany. The aim is to gain a market share of 10% for fund policies, then to gain a foothold in Germany, and then to raise a larger round of financing. fynup offers a comparison calculator for financial products. If users know how much money they want to invest per month, they can use this to find the mathematically best life insurance for their needs.
fynup has developed their own key figure for measuring the quality of investment funds, the "fynup ratio", together with research groups at the Johannes Kepler University Linz. In this way, it has been possible for the startup to provide end consumers with more information about a fund. The fintech is now also planning to be able to work in the banking sector with the help of an FMA license.
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