Savedo, a Berlin, Germany-based online financial marketplace that allows European savers to invest in safe term deposits within the EU, raised funding from HW Capital, the fintech investment company of Interhyp founders Robert Haselsteiner and Marcus Wolsdorf.
The amount of the deal was not disclosed.
The company intends to use the funds to continue to build the brand and the platform and expand internationalization efforts.
Led by Christian Tiessen and Steffen Wachenfeld, Savedo is an online marketplace for retail investment products. It offers German and Austrian investors the opportunity to deposit their savings safely (on 6, 9, 12, 18, 24, 36, 48 and 120 month deposits), at attractive interest rates, across the European Union
The company operates as a platform for the involved banks, handling customer service and providing standardized account documents. It works with its German partner bank, biw AG, and coordinates all activities with the foreign partner banks.
Backers in the company, which currently employs thirty people, included FinLeap, Point Nine Capital, DvH Ventures, Cherry Ventures and other business angels.