The family-focused fintech Bling and Telekom partner to launch Bling Mobile.
18 months after its launch, the Berlin-based Fintech counts over 50,000 families on its platform.
In the midst of the ‘funding winter’ a year ago, Bling raised millions from renowned investors such as La Famiglia (General Catalyst), PEAK, and Ben Tellings, former CEO of the German ING branch.
Bling is designed as a family platform, allowing children and parents to manage and invest their money with the Bling Card and App, as well as organize their household.
Bling Mobile is the first mobile product in the European Union specifically designed for families, including innovative child safety functions and content to promote media literacy. Bling’s integration of a telco tariff portfolio within its app, enriched with parental control functionalities, reflects a strategic move towards a more holistic family-oriented platform.
Mobile virtual network operators on the rise
The partnership with Telekom, the largest telco provider in Europe, showcases the potential for Mobile Virtual Network Operators (MVNOs), highlighting the intersection of fintech and telecommunications for a lucrative business proposition with comparatively higher margins than in the B2C fintech sector.
Bling’s venture into mobile communications taps into the rising popularity of e-SIMs, providing users with seamless connectivity options. This strategic shift also addresses the changing dynamics within the fintech sector. Bling benefits from serving the first touch points that parents get for their children: the first bank account, the first investment and now the first SIM card, implying a multi-billion TAM.
“With Bling Mobile, we make the next step in expanding to a holistic family platform. From managing pocket money, facilitating effortless parent investing, and organizing households’ tasks, we now streamline mobile communication for families”– explains Nils Feigenwinter, CEO and co-founder of Bling.
Source: Fintech News
