Kontist

Kontist aims to simplify financial processes for freelancers through their mobile banking app - when an invoice is paid, the income tax and VAT a freelancer needs to set aside is calculated in real-time, and the tax declaration is completed by human tax advisors. In Germany, freelancers spend an average of 25 days and €3000 a year attempting to organise their finances through disparate banking, accounting and tax advisory services, and so Kontist's solution is a hugely attractive one.

There are a number of competitors providing similar digital banking solutions, including Coconut, Monese and tide. Kontist is planning to use its funding to further its expansion throughout Europe, and will hope this will enable them to beat out the competition by establishing themselves as the key industry player.