- Europe’s first Family-FinTech, launches its next family product in collaboration with WealthTech Evergreen
- Focus on sustainability and simplicity: Evergreen, the only b-Corp certified asset manager in Germany, will manage the money of tens of thousands of families and allocate it primarily in impact investments.
- Following the pocket money app launch and 3.5m seed round in 2022, it’s another family-friendly product from the German Startup.
Bling, Europe’s first Family-FinTech, is opening up the capital market to families. With Bling’s new SavingsTrees, German families can now invest sustainably starting from just 1€ per month. Until now, they have provided families with the means to manage their finances and teach their children responsible money management through an educational app and prepaid card. Now, investing becomes simple and family-friendly.
More than 80% of parents in Germany are not invested in the capital market due to the high costs, complexity, and lack of understanding associated with traditional investment products. That’s why the company designed SavingsTrees specifically for families who have not yet engaged with the capital markets. The Berlin based startup employs playful visualizations and expert explanations to simplify the investment experience. The sustainable WealthTech, Evergreen, is responsible for fund management, with costs significantly lower than the industry average.
Nils Feigenwinter, Co-Founder & CEO of Bling, stated: “Simplicity and sustainability were paramount in the development of our investment offering. We prioritize families in our product development to offer a tailored solution that meets their needs.” Feigenwinter added, regarding the market: “Everyone underestimates the market potential of families, which is why banks have neglected this area for decades. With Bling, we are addressing this.”
The funds invested in SavingsTrees are globally diversified and allocated to sustainable investments with a minimum Article 8-Fund SFDR classification. Impact investments, focusing on their positive effects on the environment and society, are a particular focal point. This can be achieved through direct investments in sustainable projects and companies, as well as the selection of funds that have a positive influence on specific sustainability objectives.
Since the launch of the pocket money app in June 2022, the company has experienced rapid viral growth, with tens of thousands of families using the app on a daily basis. With the introduction of SavingsTrees, the German startup is unveiling its second family financial product. “Every day, we witness the challenges faced by families in our app, inspiring us to develop new product ideas tailored to their needs. We plan to launch at least one more product in 2023,” commented Feigenwinter.
About Bling
Bling is Europe’s first Family FinTech. Founded in 2021 as a pocket money app, they strengthens the financial literacy of children, young people and families. Thousands of family units are using the Bling app. For many children, it is their first independent payment experience.
