Moncton-based Quber, an app that aims to help users save money through fun games, has closed $450,000 in total funding.
Of the overall funding, $200,000 came from the New Brunswick Innovation Foundation, while the rest of the money came from angel investors and the Quber founders themselves.
âOur app takes something thatâs usually considered boring and unappealing and makes it easy, fun, and rewarding.â
âBudgeting and saving are something thatâs important for nearly everyone, regardless of age or financial status,â said Jen Leger, QUBERâs CEO and co-founder. âOur app takes something thatâs usually considered boring and unappealing and makes it easy, fun, and rewarding.â
Founded in 2016, Quberâs app allows users to save for goals like vacations or gifts, and money saved goes into the Quber Vault, where itâs protected from impulse spending. The app securely transfers money into personalized savings jars with automatic âsavings rules,â allowing users to determine how they would like to save money. In the past, Leger has held senior roles in BMM Testlabs, Medavie Blue Cross, and Spielo.
âQuber has a fun, innovative approach to a universal concernâsaving money,â said Thomas Bird, an NBIF Investment Associate. âTheyâve managed to grow their team, increase their revenue, and attract a significant number of customers in just three years since the company was established.â
Quber currently has five employees. The company said it is using the money to support marketing and grow its customer base. Quber also noted that it has set up several (undisclosed) enterprise pilots.
For the past 16 years, the NBIF has invested over $100 million in New Brunswick-based startups and researchers, leveraging $457 million from private and public sources. The organization has previously stated that its strategic investments have helped launch over 100 companies and funded nearly 500 applied research projects.
âQUBER has impressive potential and has proven to be very responsive to customer needs,â said Bird. âThey have a sound business model and a product developed with customer input, not to mention solid user growth and retention.â
Image courtesy Unsplash. Photo by Sabine Peters.