Social finance app Finch secures $2.25m

Australia-based social finance app Finch has acquired $2.25m in seed funding a mere three months after launch.

Said to be ‘a financial app for your social life’, Finch combines social payments and spending insights.

Launched in July, the app uses data intelligence, behavioural psychology and gamification to help build financial confidence in Australian millennials.

Users can pay and request money to any mobile phone number in Australia without the need for bank account details.

Finch will be using the funds to complete product market fit, scale product development, grow its Melbourne-based team and accelerate customer acquisition.