LITHUANIA: Vilnius-based fintech company Bourgeois Boheme (BoBo) has announced the successful closure of a €6.5 million seed round led by Austria-based venture capital firm Graphit Lifestyle. This funding is set to drive BoBo’s mission to transform family cash flow management for Ultra High-Net-Worth Individuals (UHNWI) and High-Net-Worth Individuals (HNWI).
Hugo Gomez, co-founder and CEO of Bourgeois Boheme, remarked, “Private banks have traditionally catered to ‘old money,’ but today, a new generation of wealth has emerged, with 75 percent of them operating businesses beyond their national borders. Our goal is to provide them with a modern payment-based solution so they can safely and easily execute large transactions directly through an app.”
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BoBo’s innovative platform aims to streamline unlimited wire transfers, card transactions up to €1,000,000, and manage geographically dispersed assets for wealthy families. The fintech company claims to be the first to digitize family cash flow management, utilizing proprietary security systems enhanced by AI database analysis.
The recent funding round will enhance BoBo’s functionality for managing high-volume payments, introducing an administrative panel for third-party management and expanding services to the MENA region.
BoBo’s platform is designed for the new generation of wealthy entrepreneurs, providing services such as secondary-account management for authorized third parties, payment chip embedding into devices like watch straps and key fobs, and premium metal or solid 18k gold cards. Additionally, members receive 24/7 lifestyle assistance and a dedicated relationship manager from a Swiss-based private membership club, with packages ranging from Debutant to Legend.
Operating under EEA and UK EMI licenses and approved by Mastercard, BoBo employs advanced AI to monitor and secure transactions. The platform also issues secondary cards and payment devices with preinstalled limits and usage schedules for authorized third parties, ensuring compliance and fraud prevention.
Origins and Evolution of BoBo
Founded in 2018 by the Würms family and co-founded by Gregor Anton Piëch, Hugo Gomez, and IT expert Simon Isaev, BoBo was born from a vision to innovate financial services for HNWIs. Despite challenges such as COVID-19, the Wirecard scandal, and Brexit, BoBo successfully developed its MVP and conducted a soft launch with a closed beta phase.
Currently, BoBo serves over 220 B2C clients, with more than 1,000 leads and a network of over 25 partner companies, proving effective in handling large, fast cross-border transactions.
Future Plans and Expansion
Looking ahead, BoBo aims to complete its marketing and commercial launch, focusing on UHNWIs. The company plans to develop partnerships, add new revenue streams, and expand its services to markets in the UAE, Brazil, Mexico, and the US. BoBo’s core team of 15 professionals, supported by strategic partners, is also seeking top talent in finance and hospitality to further its mission.
Gomez emphasizes, “Our future plans include developing partnerships and loyalty programs, adding new features such as multi-currency transfers, and creating business accounts and corporate revenue streams to enhance our offerings. This global strategy underscores our commitment to expanding our reach and enhancing our service offerings on a worldwide scale.” With this substantial funding, BoBo is poised to redefine financial and lifestyle services for UHNWIs, catering to the unique needs of modern, successful entrepreneurs.
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