Early-stage fintech company Birdylabs has closed its first round of investment, with $3 million dollars committed by the Rising Sun investment company. The founders plan to use capital raised to finance international development and the evolution of its intelligent savings coach, as they plan to integrate into the services of online banks.
The company was founded in early 2016 by Fabien Keller, Julien Mortuaire and Clément Flinois. Birdylabs’ mobile application, Birdycent, allows its users to round up their daily payments to the higher euro, and save the change. In this way, Birdycent offers a free and simple savings solution to end users.
The founders further developed the company through their participation in an accelerator program, with École Polytechnique. After just a few months, the application has been downloaded thousands of times, and the collective savings is in the tens of thousands of euros per month.
The company has also attracted the attention of major banks. In 2017, Birdylabs signed its first contracts with banks BNP Paribas and Société Générale. “We now have two great references, and a pool of users to test and develop a more advanced savings technology,” said the founders.
“We are thrilled to become a part of the broad and growing network of payments companies in the Rising Sun portfolio, to benefit from the deep expertise of Rising Sun management, and to have the necessary capital to build our international footprint,” stated founders Fabien Keller, Julien Mortuaire and Clément Flinois.
Birdylabs allows banks to bring new value-added services to their customers. This includes a coaching functionality which allows clients to round up their daily expenses for either themselves or a combination of friends and family. They also offer different savings algorithms based on account transactions, and offer banks an “à la carte” coach adapted to their customers. By the end of the year, Birdylabs plans to capitalize even further on its payment transaction analysis technology, by extending its services to loyalty programs and donation initiatives.
“We are so pleased to have Birdylabs join our Rising Sun payments ecosystem, as our investments continue to offer a multitude of services to our financial services partners,” said Jerome Cle. “We look forward to further sharing the synergies that come from our strategic investments in the payments and fintech industries,” he added.
Birdylabs is a fintech company whose first product, Birdycent, allows banks to help customers save money when making retail purchases. Their product allows end consumers to save money on retail purchases with minimal effort. Through partnership with banks, Birdylabs provides the ability for partner banks to offer enhanced services to their clients.
About Rising Sun:
Rising Sun is a private investment firm. Rising Sun has a portfolio of companies with a focus on the payments industry. It operates globally and is headquartered in Pleasanton, CA. This acquisition is one of a series of transactions for Rising Sun.