Personal savings app provider Yeeld has raised 71% (€357,114.20) of its €500,000 target from 292 investors with 8 days left (at the time of writing) in the firm’s crowdfunding campaign carried out via Crowdcube.
Yeeld reports a Pre-money valuation of €12,000,000; Equity: 4%; a €0.78 share price.
As noted in the update, many people have trouble saving. Yeeld is described as “a personal savings coach that aims to allow its clients to go from 0 to 1000€ painlessly, helping them achieve their financial goals & fund their projects.” Having reached more than 20k paying clients and over 650k€ of cumulative revenue, they are now “raising to acquire new clients.”
Here are the key business highlights:
- 120k accounts created & €40m saved, with just €126k spent on marketing
- Large savings market in France: €343bn in Livret A in 2021 (+€15bn YoY)
- Nagib (CEO) is a serial entrepreneur advised by successful investors
- Agreement with Amazon Incentives and partnerships with Société Générale and Simons
Many people have trouble saving: 49% of working French people “save less than €50/month because of long onboarding processes and very low yields.”
They believe that traditional saving tools “are underused: 40% of 55m Livrets A (a state-regulated savings account) in France have less than €150 on them according to Banque de France.”
The team launched Yeeld “to remove these potential blockers: you just have to register and activate automatic saving rules that will regularly transfer small amounts to your Yeeld account.”
This money is “accessible anytime, can finance long-term projects, be converted with Amazon incentives at a 3% discountor be invested in Crypto products (coming soon).”
Since launching in 2019, 120K accounts “have been opened on Yeeld (+26% monthly growth), with 24K current active customers, a rating of 4.5 on the AppStore and over €40m savings collected.”
Offering a “pay as you go” and subscription model, they “generated over 545k€ in sales since 2019 (revenue 182k€, EBITDA -233k€ in ’21).”
They have recently extended their offering in partnerships with Franfinance (subsidiary of Société Générale), Mon Petit Placement (stock market) & Simons (cryptos).
Their simplified and automated model aims “to reinvent and gamify the savings & investment process.” In 2021, it represented “a market of over €165B in France.”
The firm is now raising “to finance customer acquisition and hire engineers for tech development.”
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