Finary

About Finary

Finary is a financial technology company that operates an all-in-one platform for wealth management, investment, and asset tracking. Founded in 2020 by Mounir Laggoune and Julien Blancher in Paris, France, the company aims to simplify personal finance for a new generation of investors. The co-founders, who met a decade prior, created the platform after identifying a gap in the market for a comprehensive solution to track their own investments.

The Finary application allows users to connect and monitor a wide range of assets in one place, including bank accounts, real estate, stocks, cryptocurrencies, and precious metals. It provides a real-time, holistic view of a user's net worth by aggregating data from over 20,000 financial institutions globally. The platform's features include performance analysis, portfolio diversification scoring, a fee scanner to identify hidden costs, and AI-driven tools to help optimize investments.

Initially launched as an asset aggregation tool, Finary has since expanded its services to become an online private investment bank. In October 2022, the company obtained Prestataire de Services sur Actifs Numériques (PSAN) status from the Autorité des Marchés Financiers (AMF), allowing it to offer direct investment services, starting with cryptocurrencies. The platform now also offers life insurance products in partnership with BlackRock and Generali, and plans to introduce brokerage accounts, savings accounts, and retirement solutions. Finary operates on a freemium business model. The basic version is free, while a premium subscription, Finary Plus, offers advanced features like unlimited account synchronization and in-depth analytics. The company also provides a high-end service, Finary One, for clients with significant investable assets.

Finary has seen significant growth, attracting over 600,000 users and tracking more than €150 billion in assets. The company has successfully raised a total of €38 million through multiple funding rounds. Notable investors include Y Combinator, Speedinvest, Kima Ventures, LocalGlobe, and PayPal Ventures. The latest Series B funding round of €25 million was led by PayPal Ventures and is intended to fuel product development, integration of AI, and European expansion.