Tagged: savings

Smart Money Fintech App Snoop Secures £15M via Series A with Participation from US Investment Firm Paulson & Co. Inc

Fintech app Snoop has secured £15 million in capital in order to support its global expansion efforts. Established by ex- Virgin Money Chief Executive Jayne-Anne Gadhia, the smart money app Snoop closed its Series A round with contributions from US investment management company Paulson &… Read More

Revolut Standard Plans Gain Interest Bearing Savings

Neo-bank Revolut has announced the launch of daily interest savings vaults for UK customers on the standard plan. Starting today, customers with a Revolut standard plan can begin to earn 0.15% daily interest on the funds in their GBP vaults. Revolut Savings Vaults are said… Read More

Social Savings Platform CollegeBacker Rebrands to “Backer” & Scores $8.4 Million in Venture Capital

CollegeBacker, a U.S.-based  social savings platform for digital investment advice to 529 plans, announced on Wednesday it not only has changed its name to Backer but has also raised $8.4 million in venture capital. According to Backer, the funding round was led by Crosslink Capital with participation… Read More

UK Fintech Freetrade Survey Reveals that Brits Struggled with Financial Literacy Questions on ISAs, Retirement Planning

A recent research study has found that a lack of proper financial education has left consumers across the UK a bit confused with how to manage their funds. The study reveals that UK residents may be dealing with detrimental effects on their confidence, mental well-being… Read More

Mogo Announces Acquisition of Savings & Investing App Moka Financial

  Canadian fintech Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) announced on Tuesday it is set to acquire Moka Financial Technologies, a Canada-based saving and investing app, in an all-stock transaction.  Launched in 2017, Moka (originally Mylo) is on a mission to help its users achieve their financial… Read More

Assetz Capital Reveals that Women are Less Likely to Invest than Men, P2P Lender to “Challenge” Gender Investment Gap

Assetz Capital, a peer-to-peer lender that originates secured loans, asks why there are only 20% of women investing via online platforms. As mentioned in a blog post by Assetz Capital, there’s a “misconception” that investing is suitable or appropriate for only a “certain type” of… Read More

Following Crowdcube Success, EverUp Launches Prize-Linked Savings Mobile App

  Less than a month after securing £478,889 through its equity crowdfunding campaign on Crowdcube, EverUp has officially launched its prize-linked savings mobile app. As previously reported, EverUp’s mission is to turn saving money and generally good financial habits from a delayed gratification into a instant gratification… Read More

Varo Bank Unveils $100,000 Emergency Fund Giveaway

  Digital banking group Varo Bank announced on Monday the launch of Varo for Tomorrow, which is described as an emergency fund giveaway aimed to help Americans get started on their savings journey for 2021 and build durable financial resilience for years to come. The… Read More

Sweden Neobank Northmill Bank Unveils Third Savings Account

  Northmill Bank, a neobanking group based in Sweden, announced earlier this week the launch of its new 24 months fixed-rate savings account with a 1.35% annual interest rate and state-provided deposit insurance up to SEK 1,050,000. The third savings account’s launch comes almost exactly… Read More

Revolut Offers US Dollar & Pound Savings Accounts for UK Users

Digital bank Revolut has announced US dollar savings accounts for UK customers. According to a release, Revolut will offer interest rates of 0.65% AER for Metal customers, 0.50% AER for Premium customers, and 0.40% AER for Plus customers on US dollar funds. There is no… Read More

Update: EverUp’s Equity Crowdfunding Campaign Nears £360,000 During the Final Week on Crowdcube

  EverUp, a UK-based prize-linked savings mobile app, is set to close its equity crowdfunding campaign on Crowdcube with more than £360,000 secured. The funding round launched last month, originally seeking £150,000 and has already attracted nearly 545 Crowdcube investors.  As previously reported, EverUp’s mission… Read More

Overfunding: Prize-Linked Savings Mobile App EverUp Now Nearing £300,000 Through Crowdcube Round

  EverUp, a UK-based prize-linked savings mobile app, has successfully secured nearly 300,000 in funding through its equity crowdfunding campaign on Crowdcube. Founded earlier this year, EverUp’s mission is to turn saving money and generally good financial habits from a delayed gratification into a instant… Read More

Savings App Chip Gets Ready to Introduce Investment Products in 2021

Simon Rabin, Founder and CEO at London-based Chip, a financial services firm that automatically stashes away what consumers can afford so they can “spend it on things that really matter,” notes that there may be a potential opportunity to enter the wealth-building space. Rabin’s recent… Read More

Chase Launches New Account to Help Children Develop Healthy Savings & Spending Habits

  Chase announced on Monday the launch of its new checking account, Chase First Bank, to help parents teach their kids and teen about the importance of money management through the Chase Mobile app. According to Chase, the account was build in collaboration with Greenlight…. Read More

Revolut Junior Unveils New Savings Feature “Goals”

Digital bank Revolut announced on Thursday its service Revolut Junior has launched a new feature called Goals, which offers an “easy and fun way” to learn about savings. According to Revolut, Revolut Junior is designed for young people ages 7 to 17 years old and… Read More

US based Fintech Stash Claims its AUM have Grown to $1.8 Billion, Company Reportedly Offers Personalized Advice to 5 Million Americans

The team at Stash, a US-based company that offers micro-investment options through a mobile app, claims that during the recent market volatility and economic instability (due to COVID-19), the Fintech service provider has continued to offer personalized advice and innovative tech to help guide +5M… Read More

UK Fintech Chip Sees 103% Increase in Amount of Money Put Aside in Savings App

Chip, a UK-based automatic savings app, announced on Monday it has registered a summer of record growth, as the UK’s savers’ priorities shifted towards financial security and saving in light of the coronavirus pandemic and its impact on the economy. As previously reported, Chip is… Read More

Survey from Fintech Lender and Digital Bank Zopa Reveals UK Millennials Aim to Save More than Senior Citizens for Emergencies After COVID-19

Nearly a third or 33% of UK residents say they were financially unprepared for the COVID-19 outbreak and resulting challenges. Around 38% of UK residents responding to a survey conducted by Fintech Zopa said they’re now preparing their savings for another potential emergency situation that… Read More

As Marcus UK Pauses New Accounts, Flagstone Says We are Open For Business, Offering High Interest Rate Savings Accounts

“Smart cash platform” Flagstone has distributed a note stating it is “business as usual” in offering new accounts for cash savings with higher interest rates. Flagstone is promoting its service while another digital savings provider, Marcus UK, has announced that it has pushed pause on… Read More

Raisin: Savings Rates Rise During COVID Even While Interest Rates Drop

Fintech Raisin has distributed a report on European interest rates. Raisin provides a service that enables consumers to compare and select higher rate return savings accounts. Raisin notes that the savings rate has risen during the COVID-19 crisis, meanwhile inflation and interest rates are down,… Read More

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