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Polish early stage venture capital fund IQ Partners invested in Moneyzoom.pl, a website and a mobile app that allows families manage their household budgets, reports MamStartup. The size of the deal was not disclosed.
Moneyzoom compares financial products and offer a number of saving tips. As a mobile app it became top three downloaded app in Polish appstore. The company now has 20 000 users but intends to acquire 150 000 accounts by the end of 2012 (in comparison Russian personal finance planning tool Zenmoney, which made it to the top five startups according to the Pruffi rating 2012, lists only 1638 active users). Moneyzoom plans to expand its personal expense tracking functionality, and automatic data aggregation.
Based in Warsaw, IQ Partners invested in total of 53 companies so far, and has made 9 partial exits. Last year IQ Partners backed AntyWeb.pl, leading polish tech blog founded by Greg Marczak. The fund holds 27 percent of the equity in the online publication.
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