German banking app designed for freelance workers Kontist has raised €2m in a new funding round.
The capital comes from Danish seed investors Founders and Vækstfonden.
The company targets the increasing number of freelance workers to help them to manage their finances.
Kontist’s cost-free bank account’s services include automatically-generated reserves for VAT and tax, paperless account processing and mobile banking services.
It says the funding will be used to further develop its app.
The round highlights investors’ sustained interest in challenger banks as new players enter the space with a greater focus on serving specific sectors.
Entrepreneur-focused NorthOak Bank recently announced that it managed to generate a profit in less than a year after its launch.
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