Finanzguru, a fintech company based in Frankfurt am Main, Germany, that provides an open banking-enabled holistic financial advisor, has raised $14,221,000 in funding. The funds will be used to accelerate profitable growth in Germany, expand the company's product platform, and strengthen its current team of 70 employees.

The round, which brings the total funding raised by SCOR Ventures and PayPal Ventures close to $30 million since its inception in 2018, was led by new investors SCOR Ventures and PayPal Ventures, with participation from existing investors including Deutsche Bank, coparion, VR Ventures, Hannover Digital Investments,and Venture Stars

Finanzguru, led by co-founders and co-CEOs Alexander Michel and Benjamin Michel, is an artificial intelligence-powered digital and personal financial assistant. It serves as a command center for its users' money, allowing them to track their income, expenses, and contracts, save and invest, and purchase insurance and other financial products. Users can connect any online banking account in Germany to Finanzguru for this purpose.