Savedo is an international online financial marketplace headquartered in Berlin that enables private customers in Germany, Austria and the Netherlands to deposit savings with partner European banks at rates up to 2.5% per annum. Deposits on the platform are secured in line with current EU directives through partnerships with banks such as biw AG, Atlantico Europa, Banka Kovanica, Hanseatic Bank, J&T Banka, KentBank and Vaba Banka. Led by CEO and cofounder Christian Tiessen, the platform aggregates deposit products across the EU to offer higher yields to retail savers. Financially, Savedo has previously raised more than $12M in growth funding and has now added a $2M financing. The company says it will use the new funds and investor Simon Nixon’s network to expand further into European markets. Founded in mid-2014, Savedo operates an online marketplace that offers private customers in Germany, Austria and the Netherlands access to savings products from partner banks across Europe via a single clearing account. In cooperation with German biw AG and various European partner banks, the company places customer deposits with a variety of terms and interest rates, currently up to 2.5% per annum. Deposits are secured up to €100k by the country-specific deposit protection fund in accordance with EU directives. The platform aims to simplify cross-border savings by aggregating offers and handling clearing. Savedo plans to use new capital to further enhance customer services, add new product categories and continue international expansion. The company has raised over $10m in total funding to date. Savedo is a Berlin, Germany–based online marketplace for retail investment products that lets German and Austrian investors place term deposits across the European Union. The platform offers deposits with terms of 6, 9, 12, 18, 24, 36, 48 and 120 months at attractive interest rates and handles customer service and standardized account documents for partner banks. Savedo works with its German partner bank biw AG and coordinates activities with foreign partner banks to facilitate deposits. The company is led by Christian Tiessen and Steffen Wachenfeld and currently employs thirty people. It intends to use new funding to continue building the brand and platform and to expand internationalization efforts. Backers include FinLeap, Point Nine Capital, DvH Ventures, Cherry Ventures and other business angels.

Total raised

$8M

Funding rounds

3

Latest round

Equity

Latest activity

Jun 2016