In brief: Spending tracker Gini banks $1.6m funding

Gini, the Hong Kong-based spending tracker, announced today that it has successfully completed its seed round with a US$1.6 million investment from both international institutions and Vectr Ventures, an early-stage fintech venture capital firm also based in the city.

The funding will support Gini’s global rollout plan, according to co-founders Raymond Wyand and Victor Lang, who also serve as CEO and chief operating officer, respectively. The smart tracker aims to be compatible with over 3,000 overseas banks in 60 countries by the second half of 2019, starting with the over 60 banks across Hong Kong, France, Switzerland, and the UK currently available.

Source: Gini

The app can be linked to multiple bank accounts and credit cards from different providers, allowing users to monitor all their spending in one place.

Following its March 2018 soft launch, Gini claims to have racked up over 20,000 users in Hong Kong and handled transactions worth more than US$765 million to date.

Currency converted from Hong Kong dollars. Rate: US$1 = HK$7.84