ISB leads funding round for Savedroid

Infosys Germany founder Debjit Chaudhuri and Traxpay founder Michael Rundshagen also invested in the round alongside unnamed business angels.

The new capital will be used to provide the 150,000-strong user base with more contract categories. The company also aims to accelerate user growth and expand internationally by the end of the year.

Savedroid had received financing of €1.125m prior to the announcement of the latest round.

Company
Founded in September 2015 with offices in Mainz and Frankfurt am Main, Savedroid has developed an app for personal finances, allowing users to automate the process of saving money by linking it to everyday activities. For instance, every 100th time a user checks their smartphone, runs 5km or uses social media, the app could send €5 from a personal account to a Savedroid saving account.

The company employs 12 people and is partnered with Wirecard Bank for transaction services.

People
Savedroid – Yassin Hankir, Marco Trautmann, Tobias Zander (co-founders).

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