Founders of savedroid

Shortly before the start of its highly anticipated ICO, the Frankfurter fintech savedroid AG has collected 1.5 million euros from several investors in another round of equity financing. The revenue will be used for the expansion of the savings app into cryptocurrencies. In total, savedroid has now gathered more than 3.5 million euros equity from investors.

The latest financing round brings, among others, investors such as Alfred Schorno, Managing Partner of the Forex trading platform 360T, and crypto entrepreneur Dennis Weidner. The Investment and Economic Development Bank of Rheinland-Pfalz, a promotional bank of the German federal state of Rhineland-Palatinate, has also increased their investment in savedroid.

Schorno, a serial fintech investor, will move up in the course of the year to the Supervisory Board of savedroid. He says of his investment: “savedroid offers a compelling and globally scalable business model. Their AI-based app enables users to successfully overcome their weaker self and regularly save money, which is a very strong value proposition. Also, savedroid’s experienced and passionate management team and high profile B2B partners were key investment criteria for me.”

savedroid CEO Dr. Yassin Hankir is very pleased about the well-known new shareholder: “We are thrilled that we have gained Alfred Schorno as an investor. He brings important strategic management experience and is also an entrepreneur with great passion. I’m sure that he will make a very important contribution to savedroid.”

Dennis Weidner says: “savedroid‘s vision to connect the technical crypto world with the average user by leveraging the latest technology to provide easy access to crypto currencies has convinced me. Given their track record and the experience of the management team, I want to support the successful scaling of the business model with my investment and thereby realize my dream of a unique and independent crypto ecosystem.”

Immediately after this round of financing, savedroid sold out the pre-sale of its eagerly-awaited ICO with lightning speed. 500 million tokens (nominal amount of 5 million euro) were sold in only seven hours. A two-digit million euro sum is expected to be collected by issuing the tokens in the ICO. With it, the company wants to develop a new area of business, which is designed to radically simplify trade with cryptocurrencies like Bitcoin and Ethereum. savedroid wants to bypass previous technical hurdles, using a simplified user interface, and make the buying and selling of digital money as easy as regular online banking. From the middle of 2018, savedroid also wants to offer savings plans for a number of cryptocurrencies. Derivatives and portfolios for digital money will follow.

The ICO will be continued with the main sale phase, starting February 9th, 2018. savedroid is among the very first ICOs of a German stock corporation that follows German legislation and regulation.