Qapital, a personal finance startup in New York and Stockholm, has raised $12 million in Series A funding.

Like other consumer-facing apps, Qapital uses behavioral economics in hopes to inspire its users to build a savings habit by tweaking their everyday actions. A user can set goals and rules so the app automatically makes a small savings transfer every time the user buys a coffee, for instance.

“It’s amazing how things change when people are clear on their goals and can visualize achieving their goals,” said George Friedman, co-founder and chief executive of Qapital in a press release announcing the funding.

Qapital team
Qapital aims to help its users improve their savings habit by tweaking everyday actions.

The company says 180,000 individuals have opened and funded savings accounts through Qapital in under two years. With the new funds, Qapital said it plans to strengthen the platform and expand beyond savings.

Investors in the latest round include Anthemis Exponential Ventures, Northzone, Industrifonden and Rocketship VC.

The latest round comes as ever-more banks are updating their mobile apps to include money-management features in a bid to engage consumers beyond transactions.

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