Savedo raises $5.6m from XAnge et al.

Point Nine Capital and German Startups Group also participated in the round. Furthermore, WeltN24 invested via a media-for-equity deal.

With the fresh capital, Savedo aims to develop new products and extend the network of banks it collaborates with. It also plans to expand into other European countries.

Previous funding
June 2014 saw Cherry Ventures, Point Nine Capital, Finleap, DVH Ventures and German Startup Group providing a round of seed funding for the business. The latter two backers reinvested in the business in January 2015.

In May 2015, Point Nine structured another round of early-stage capital funding for Savedo. Further funding came from Cherry, German Startups Group Berlin and DVH.

Company
Founded in 2014, Savedo is an online marketplace that allows users to invest in fixed-term deposits. It operates as a platform for the banks involved, handling customer service and providing standardised account documents. The startup is headquartered in Berlin, Germany.

People
XAnge – Bernhard Schmid (member of management board).
FinLeap – Hendrik Krawinkel (co-founder, managing director).
Savedo – Christian Tiessen, Steffen Wachenfeld (co-founders).

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• Topics
• Early-stage
• DACH
• Financials
• Germany
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