News from the Financial Inclusion Summit 2019 Fintech Cohort: Spiff

The Norwegian social savings app Spiff helps people build great saving habits – now they are closing the investor gap

 

(OSLO, 27. March, 2018) Spiff, the world’s first social savings app launched their savings app last summer and already more than half of their 12 000 users save together. Research shows that people who save together build better saving habits.

Young people know they should save, but the problem is that banks make it so boring. And society constantly pushes for instant gratification. Spiff came up with the solution to make saving fun, simple and social – letting users share their savings goals together with friends and family. This way more people build healthy savings habits together.

Now, Spiff takes the social mechanism further, trying to close the investor gap. This week the social savings platform launched their equity crowdfunding to their users. With the mission to change the perception of what is an investor.

In less than 24 hours the savings app attracted 100 new investor and reached more than 70 percent of the funding goal. Now they are aiming to set the Norwegian record in crowdfunding together with their users. 

People want to take part, but often are left excluded. That’s why Spiff invited all their users, who count three times as many woman than men, and more than 80% of users are young people under 35. To lower the barrier to invest, they set the ticket at NOK 1000 (approx. EUR 100), about the price a a good pair of jeans.

We wanted to set an example to other companies that we have the power to change the way the representation works. Investors should be more than old men in suits. By inviting our users and lowering the barrier to invest we are getting a better representation of our society and we contribute directly to closing the investor gap.

“We’re very proud to be highlighted as one of the Nordic companies that can work to bridge financial inclusion with our social savings platform. It doesn’t matter what kind of car you have, or how much money you make, but it matters that you save money for what’s important to your life.” 

“Carl-Nicolai is a leader with a vision that can really impact young people’s lives, making saving social, and giving them a unique saving experience”, said Jan Christian Opsahl, Investor.

Calle Wessmann, Founder and CEO of Spiff 

Leave A Comment

Your email address will not be published.

back to top