Rask has advised Estonia-based fintech start-up Bilance on raising a EUR 300,000 investment in a round featuring Specialist VC.
Bilance is a company aiming to "help people make better financial decisions." The company develops and operates an app that tracks expenses and offers an overview of one-time purchases and recurring payments to help people manage their budgets.
"This is an important step for the company, not only for international growth, but also to expand the technical team, allowing for continued innovation and service improvement," Rask announced. "Inflation, rising interest rates, and taxes have forced people to look for ways to manage their money better. According to Specialist VC Partner Kaspar Hanni, the value of Bilance has become especially clear in today's economic environment, where the application that simplifies the personal financial overview is becoming more and more important."
According to Rask, lack of financial literacy is a problem in Estonia and beyond. "Bilance is actively trying to solve this very problem by providing users with an AI-powered mobile application. This app automatically tracks spending habits and helps users take steps to improve them. The Bilance application is securely compatible with over 1,000 banks across Europe, including all major banks in Estonia."
The Rask team was led by Partner Timo Kullerkupp.