New figures for Nuri

The Berlin-based crypto bank used to be called Bitwala. Previously unknown figures are expected to provide new insight, according to a media report.

Nuri is a neobank formerly known as Bitwala. Founded in 2015, the start-up is now active in 32 countries, but has so far not wanted to comment on figures, despite or perhaps because of its expansion. However, research by start-up portal Finanz-Szene.de now provides some insights into the idea behind Neobank, which also relies on crypto.

According to the report, investors valued the start-up Nuri at €144 million in its latest round of funding. This represents a 125 percent improvement over the previous funding round, according to the report. That's a strong increase.

Also of interest: currently, Finanz-Szene values each customer at around 575 euros, although the term customer refers to registered users who may be contacted by Nuri. According to Finanz-Szene, if the 2020 cash burn of 800,000 euros per month were to continue, both the equity of 4.5 million and the 2021 funding would be almost completely used up. What does this mean?

Finanz-Szene concludes that a new funding could be imminent or has even already taken place. The nearly 150 employees Nuri has hired in the past 15 months would also suggest this.