Bunq, a European challenger financial institution primarily based in Amsterdam, has introduced that it plans to accumulate Tricount, a preferred cell app to handle group bills. Bunq isn’t disclosing the phrases of the transaction and the acquisition is pending regulatory approval.
Tricount is an easy but efficient method of monitoring bills as a bunch. As an illustration, in case you are touring with pals or for those who reside with roommates, the Belgian startup lets everybody add bills, which could be helpful when it’s not the identical individual shopping for issues for the group.
At any cut-off date, group members can verify who owes what in order that they’ll settle up. Tricount provides extra choices. As an illustration, you possibly can add bills in a number of currencies or cut up bills inconsistently.
Tricount has amassed fairly a big person base with 5.4 million customers. The app is free with adverts. There’s additionally an non-compulsory subscription that unlocks professional options, comparable to CSV exports and statistics. It competes with different cell apps, comparable to Splitwise.
“Tricount’s dedication to simplicity, transparency and neighborhood completely aligns with our personal values. I’m very blissful that we’re capable of supply Tricount’s customers many new methods to make life simple,” Bunq founder and CEO Ali Niknam mentioned in a press release.
Whereas Bunq allows you to cut up a cost with pals, the characteristic is designed for a bunch of people that all use Bunq. Tricount is a financial institution agnostic answer.
That is an fascinating transfer as these startups don’t supply the identical factor in any respect. Bunq is a challenger financial institution with account numbers, debit playing cards and, sure, subscription charges. Then again, Tricount is a light-weight, principally free utility app with some virality issue because it solely works with teams.
Tricount has a big viewers however doesn’t generate as a lot income per person as Bunq. It might act as the highest of the funnel for Bunq services and products.
Whereas Tricount’s app is on the market globally, the corporate focuses particularly on customers residing in France, Spain, Germany, Belgium and Italy. Bunq additionally operates in these markets.
“We absolutely subscribe to Bunq’s mission and are very proud to be part of it. I’m excited for the numerous alternatives this provides our customers,” Tricount co-founder and CEO Jonathan Fellon mentioned in a press release.
In different information, Bunq is asserting a handful of recent options right this moment. With Jackpot, customers can take part in a lottery by paying with their Bunq card, including cash to their account and welcoming pals.
The app has been barely rearranged. Customers can now customise the house tab with accounts, playing cards and different options. In the neighborhood tab, customers can now reply to posts from the app.
