Nummo closes $1.9m funding and sets up Advisory Council
Nummo has closed a $1.9 million round of seed funding, which brings new members to its newly formed Advisory Council.
Funding was led by an undisclosed group of C-Level executives and entrepreneurs from Europe and the US. The company previously raised $700,000 in a “Friends & Family” round.
Its personal finance management platform aggregates consumers’ bank accounts and helps them to manage their finances. The company also expects to open US headquarters in early 2019.
Nummo says it analyses and oversees over $500 million in consolidated yearly spending.
This funding will allow the firm to expand its current offering, as well as creating new products and services.
Nummo has also created an Advisory Council to provide counsel and advice, which includes Lawrence G. Baxter, PhD; and Mac Lackey.
Baxter directs the Global Financial Markets Centre at Duke University and was formerly executive vice-president and chief e-commerce officer at Wachovia National Bank.
Mac Lackey is an entrepreneur and investor, who has served on the board of directors of Lending Tree. He will be chairman of the Audit Committee, as well as being part of the Compensation Committee and Executive Committees.
Nummo says it doesn’t accept financial incentives, kickbacks or commissions from any financial institutions; and does not sell any financial products on its platform.