Young Berlin-based FinTech startup Cookies has closed a seed round worth €1.5 million to develop Europe’s fastest and most secure P2P payment app. The experienced team will be supported by Holtzbrinck Ventures, studiVZ founder Ehssan Dariani, auxmoney’s Raael Johnen, and Dennis Bemmann (founder of studiVZ, Bergfürst), as well as by Wunderlist luminaries Chad Fowler (formerly CTO, now General Manager), Benedikt Lehnert (Chief Design Ocer), Steen Kiedel (CFO), and other angel investors.
The launch of the Cookies app is planned for the first quarter of 2016. Interested consumers can already sign up for the beta at www.cookies-app.com. The start of the beta phase will be announced soon.
“The Cookies team around Garry Krugljakow and Lamine Cheloufi not only brings a wealth of experience in the FinTech sector but has shown a high level of vision and appetite for true innovation,” says Barbod Namini, Principal at Holtzbrinck Ventures.
No P2P payment app in Germany has yet managed to convince the market. With an onboarding process of under 60 seconds after which the user can send and receive money from account to account for free without needing TANs and IBANs, this is the vision of Cookies.
Co-founder and Head of Product Lamine Cheloufi, who has himself previously developed FinTech products, said: “With Cookies, you can send and receive money within seconds from account to account – completely for free. People will no longer have the hassle of finding cash, ATMs, or account numbers. Cookies does not wish to, and will not, have access to sensitive bank data. Sensitive data stays with the user, who is at no point required to disclose it.”
Data privacy in the P2P payment sector is increasingly coming to public attention with major American corporations including Google and Apple muscling their way into the market. Both companies have previously courted controversy through data-protection scandals. When it comes to the handling of sensitive data, questionable data-protection practices could clash with the interests of the user.
Founded at the beginning of the year by Garry Krugljakow and Lamine Cheloufi, Cookies boasts an experienced international team of 25 employees who have previously worked in award-winning startups, in the banking sector, and in various other areas.
Ehssan Dariani, who has supported Cookies from the very beginning as a founding investor, says: “The Cookies team is using its innovation to solve a problem that has had many others tearing their hair out for years. It was clear to me from the start that it was one of the most enthralling projects of the last few years.”
Benedikt Lehnert, Chief Design Ocer at Wunderlist, says: “Wunderlist proved itself in a hotly contested marketplace through its unique combination of user-friendly design and world-class technology. With its brilliant yet simple product, Cookies fulfills all the requirements to become a success story itself.”
The investors are also using their expertise to support Cookies in developing the product and bringing it to the German market.