ZELF, a global Generation Z financial services neobank, has secured $ 2million (around £ 1.4million) in a pre-seed funding round.
“The incredible demand is a strong incentive to accelerate our growth,” says Elliot Goykhman, Founder and CEO of ZELF, “and we are delighted that investors share our vision of a contactless, cashless society. We are confident that our business model of eliminating cumbersome banking apps, as well as physical plastic cards, will prove to be the winning strategy. “
Who supported ZELF?
The round was led by Austrian venture capital fund 3VC with the participation of Seed Х and Hard Yaka.
Also, “UK Angel Investor” of 2019, Chris Adelsbach, venture capital partner at Techstars and founding partner at Outrun Ventures, invested in neobank and Yair Goldfinger, co-founder of ICQ and “inventor” of instant messaging .
Chris Adelsbach: “I am extremely impressed with ZELF’s approach to market. This is part of a great user journey that sets ZELF apart from the competition. I am delighted to support them in their vision to make the bank more inclusive globally.
How will the funding be used?
The funding will be used to further accelerate the growth of the neobank and expand its services across Europe, Spain, Germany, Poland, Italy, and to establish its presence in the UK and US.
The financial service of Generation Z
Founded by Elliot Goykhman, ZELF provides financial services directly to instant messengers such as Facebook Messenger, WhatsApp, Telegram and Viber.
According to the company’s claims, it takes less than 30 seconds to receive a virtual Mastercard and IBAN account. Once issued, a customer can send and receive money quickly through the messaging platform of their choice.
Uses an AI-powered voice command system
Based in Riga, Latvia, ZELF uses an AI-based voice command system that allows users to request money, send invoices, check account activity, and more.
According to the company, ZELF digital Mastercard cards have been actively used by tens of thousands of cardholders in France since their launch in August 2020. Notably, more than half a million customers from more than 100 countries in the world have pre-ordered ZELF cards.
Scharf, Partner at 3VC: “Generation Z is the first generation of smartphones. Money is an alien concept in their world. As a parent, I am excited about how ZELF is empowering Gen Z as consumers by seamlessly integrating into the platforms they already use and at the same time including parents and applying technology for a secure digital engagement.
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