The ink on the contract is dry, and the champagne bottles have been popped. The whole ERNIT team is very proud to announce that we have just raised a seed round of 700.000 US Dollars. This is fantastic news for our piggy bank. It will help it become an even better product and reach out to even more children to give them the essential lifelong skills that every child deserves.
The two investors behind the funding is Denmark’s biggest seed funding company SEED Capital and Danish bank Spar Nord.
»This is a dream-scenario for us. We get the necessary capital to optimize the product, but we also get a very innovative bank as a partner with about 400.000 customers. This is a great opportunity for all of us,« says co-founder and CEO Soren Nielsen.
Communications and Business Development Officer at Spar Nord, Ole Madsen, couldn’t agree more:
»ERNIT doesn’t only bring the piggy bank into the digital age, the team puts power into all the values that are connected to saving, and for us this is a unique possibility to help the new generations to get better at handling money.«
The funding will be used to optimize both the digital and the physical experience and especially the connection between the two through ERNIT’s internet of things platform. The coming months will thus be very much focused on the end-users experience before ERNIT will look at scaling the product.
»The scaleability of a company is of course an important factor when we decide to invest. ERNIT’s business model and the problem that it solves has a great global potential,« says Investment Manager Richard Breiter from SEED Capital.
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