Savedo’s First Anniversary
Time to celebrate! In December 2015, FinLeap´s first venture Savedo commemorated its first anniversary. We want to congratulate the entire Savedo-Team by reminiscing about the exciting developments in the first 12 months of business and by simply saying: Keep going guys!
Four partner banks, 19 fixed-term deposit products, over 100 million. € in customer savings and 37 employees from more than 20 countries – those are the numbers for what has been a thrilling ride so far. Of course, there is more to the first year at Savedo than the plain stats. Let´s start at the beginning.
The launch of Savedo´s online platform on December 4th, 2014 marked not only a beginning, but also an end-an end to six months of dedicated grassroot work and preparation. Low interest rates for fixed-term deposits in the German market led to an idea that was used to develop a sustainable business model and ultimately moved on to become Savedo. Starting with Czech banking partner J&T Banka, Savedo enabled customers to benefit from better interest rates in other countries while their deposits continued to enjoy the protection of the European deposit guarantee schemes. “At Savedo, we live the European idea”, says Christian Tiessen, Co-Founder of Savedo, “we cannot stop at national borders but need to transport our idea and values to all of Europe. Our services are designed to do exactly that.”
Throughout the year, the entire Savedo-Team had only one goal: to put in everything it takes to improve service, enhance the functions of the platform, and broaden the product variety for Savedo customers. Only four months after its launch, Savedo took its first steps towards internationalization and became the first platform to provide higher interest rates for savers in Austria. In August 2015, the Savedo website received a facelift in order to simplify access. In the first year of business, the company managed to partner up with a total of four banks from Portugal, Czech Republic and Croatia. Ramin Niroumand, partner at FinLeap concludes: “In the past 12 months, our founders Steffen Wachenfeld and Christian Tiessen and the entire team have pushed Savedo forward – and they succeeded. The team grew, the number of customers increased rapidly and we are receiving positive feedback from investors. At FinLeap, we are proud to be part of this success story.”
In the near future, Savedo aims to further strengthen its technology and broaden its product base. When asked for his vision of the future Savedo, founder Steffen Wachenfeld answered: “I want to build an integrated platform with a one-stop solution for all retail investment products. Customers should be able to invest across international banks and Germany banks with one account at Savedo. In order to achieve that, we will aim to find new partner banks and create new customer-friendly products.”
After an exciting first year at Savedo, 2016 will take the company to the next level. Jan Beckers, Chairman at FinLeap, congratulates the venture: “Give it all you got, keep having fun! You picked up sleeping funds in Germany and Austria and put them where they are supposed to be thus, creating profits for their owners! 2016 will be even more exciting!”