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Bunq, a European challenger financial institution based mostly in Amsterdam, has introduced that it plans to accumulate Tricount, a well-liked cellular app to handle group bills. Bunq isn’t disclosing the phrases of the transaction and the acquisition is pending regulatory approval.
Tricount is a straightforward but efficient method of monitoring bills as a gaggle. For example, if you’re touring with pals or when you dwell with roommates, the Belgian startup lets everybody add bills, which may 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 affords extra choices. For example, you possibly can add bills in a number of currencies or break up bills erratically.
Tricount has amassed fairly a big consumer base with 5.4 million customers. The app is free with advertisements. There’s additionally an elective subscription that unlocks professional options, reminiscent of CSV exports and statistics. It competes with different cellular apps, reminiscent of Splitwise.
“Tricount’s dedication to simplicity, transparency and group completely aligns with our personal values. I’m very pleased that we’re in a position to provide Tricount’s customers many new methods to make life simple,” Bunq founder and CEO Ali Niknam mentioned in an announcement.
Whereas Bunq helps you to break up a cost with pals, the characteristic is designed for a gaggle of people that all use Bunq. Tricount is a financial institution agnostic answer.
That is an fascinating transfer as these startups don’t provide 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 consumer as Bunq. It may 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 an announcement.
In different information, Bunq is asserting a handful of latest 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 alluring pals.
The app has been barely rearranged. Customers can now customise the house tab with accounts, playing cards and different options. Locally tab, customers can now reply to posts from the app.
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