Copenhagen FinTech Lab resident Ernit just received 5 million in funding from Spar Nord and SEED Capital. This is part of a general increase in funding of Danish startups by both domestic and foreign investors. Ernit is one of the stars on the Danish fintech scene with a resume that includes participation in techstars accelerator program in New York, where they were 1 of 10 startups selected from a base group of 1.000 startups. The product, a smart piggybank and an App, will teach healthy financial habits to small children. Through the App, parents and grandparents can enter goals for the children, the smart piggybank will then make sounds and light up the closer the children are to achieve their goal.
Spar Nord is not only going to provide funding, but will play an active role in the scaling of the product on a domestic level. Ernit CEO Søren Nielsen views Spar Nord as a progressive bank with a clear digital strategy, and with Spar Nord at their back, Ernit will be able to quickly scale both domestically but also across borders. Furthermore, Ernit have just finished a pilot project with Barclays in England, a testament to the quality of Ernit.
Read Spar Nord’s press release on the funding here.