Bling and Telekom Collaborate to Introduce 'Bling Mobile'

Published about 2 months ago

The family-focused fintech company, Bling, has joined forces with Telekom to launch ‘Bling Mobile.’ Telekom, Europe’s largest telecommunications provider, recognized Bling’s unique family-centric approach and impressive growth as appealing factors for partnership. Bling, based in Berlin, has garnered over 50,000 families on its platform within 18 months of its inception.

Bling’s Growth and Expansion

Bling managed to secure millions in funding from notable investors such as La Famiglia (General Catalyst), PEAK, and Ben Tellings, the former CEO of the German ING branch, even amid last year’s ‘funding winter.’ The introduction of ‘Bling Mobile’ signifies the fintech’s progression towards becoming a daily essential for families.

Bling’s platform is engineered for families, enabling parents and children to manage and invest their money through the Bling Card and App. Additionally, it aids in household organization. ‘Bling Mobile’ is the first mobile product in the European Union tailored specifically for families, featuring innovative child safety functions and content to foster media literacy.

Intersection of Fintech and Telecommunications

The collaboration with Telekom underlines the potential of Mobile Virtual Network Operators (MVNOs), highlighting the convergence of fintech and telecommunications as a lucrative business venture. The venture also shows a shift in the dynamics within the fintech sector.

Bling’s foray into mobile communications leverages the growing popularity of e-SIMs to offer users effortless connectivity options. The company’s serve as the first touch point for parents for their children’s first bank account, first investment, and now the first SIM card, indicating a multi-billion TAM.

A Holistic Family Platform

“Bling Mobile expands our scope to a holistic family platform. We streamline mobile communication for families in addition to managing pocket money, easing parent investing, and organizing household tasks,” says Nils Feigenwinter, CEO and co-founder of Bling.

Leon Stephan, CTO and co-founder of Bling, added that they have developed a mobile plan tailored for children and parents, featuring unique attributes like an internet filter for children and educational gamification elements.

Bling’s Future Prospects

Wolfgang Metze, Managing Director Private Customers at Telekom Germany, expressed satisfaction with the unique digital mobile communication product developed in partnership with Bling. He emphasized that promoting media literacy is a crucial focus.

Ben Tellings, an early investor in Bling, also expressed optimism about Bling’s strategy. He sees the integration of telco services as a strategic move to capture a broader market share and establish Bling as a leader in shaping the future of family-centric services.

With Bling Mobile, parents gain access to not only the first mobile plan for their children but also a full-service parental offering with societal significance and practical functions that enhance the media and financial literacy of future generations.