Mosaic, Santander in funding round for Bonify

Experian Ventures, the venture capital arm of consumer credit reporting company Experian, and the founders of fintech website Raisin also took part in the investment.

According to press reports, the round consists of a high seven-digit amount.

Bonify intends to use the fresh capital to consolidate its market position in Germany and further boost its expansion in the rest of Europe.

Previous funding
Index Ventures, DN Capital and HW Capital, as well as the founders of Zalando and Raisin, invested in Bonify in December 2015.

Subsequently, Mosaic and Ribbit Capital led a €5.5m series-A round for the startup in February 2017.

Santander InnoVentures led a funding round for the company in November 2018, with participation from existing investors Mosaic, Ribbit and DN.

Experian Ventures and Santander InnoVentures invested in the company in July 2019, alongside a number of private investors.

Company
Established in 2015 and headquartered in Berlin, Bonify provides users with their credit score as well as insight of their creditworthiness and financial situation.

The company's platform offers free access to credit reports, with the ability to check and correct credit scores and track changes. 

Bonify employs 30 staff and claims to have more than 500,000 users.

People
Bonify – Gamal Moukabary (co-founder, CEO).
Mosaic Ventures – Simon Levene (partner).
Santander InnoVentures ­– Manuel Silva Martínez (partner).

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