Bonify

Bonify is a Berlin-based fintech company that provides individuals with access to their credit scores and financial health insights, enhancing their understanding of creditworthiness in the German market. Founded in 2015 and headquartered in Berlin, Germany, Bonify operates as an independent entity after its acquisition by Schufa Holding AG in December 2022, which aims to enhance credit rating transparency. The company was established to empower consumers in managing their credit data effectively. Andreas Bermig, the founder, has experience in the fintech space, contributing to Bonify's vision of offering accessible financial insights.

Since inception, Bonify has successfully completed 7 deals, with its latest funding round being a Series A amounting to EUR 5. 50 mn, leading to a total raised of EUR 5. 50 mn and a current valuation of EUR 26. 924 mn.

Bonify offers a range of solutions that enable users to manage their creditworthiness and financial health. The platform provides free access to users' SCHUFA credit scores, along with detailed insights into credit entries and third-party inquiries. Key features include monitoring changes in credit data, notifications for negative entries, and tools like 'FinFitness' that assess overall financial health, aiding users in making informed financial decisions in Germany's competitive lending environment. In the most recent fiscal year of 2022, Bonify generated revenue of EUR 1,408,163.

20 and reported an EBITDA of EUR 244,285. 60. The company utilizes a freemium business model, offering basic services free of charge while monetizing through premium features, including a paid rental credit check service priced at EUR 29. 99, and partnerships with financial institutions providing tailored financial products based on users' credit profiles.

Following its acquisition by Schufa Holding AG in December 2022, Bonify plans to leverage its resources to enhance product offerings and market reach. The recent funding will support the development of new features and services to further assist users in improving their financial health. Bonify aims to expand its presence within Europe, targeting additional markets by 2025, while continuing to provide independent services under Schufa Holding AG's management.