wajve, a Berlin, Germany – based financial app for Gen Z, raised €5m in seed funding.
The round was led by EQT Ventures with participation from 468 Capital and angels including Lucas von Cranach (CEO of OneFootball), Roland Grenke (co-founder of Dubsmash and Acapela Group), and Christian Gaiser (CEO of COSI).
The company intends to use the funds to accelerate the roll-out of the platform, which has just launched, for the first customers in Germany before expanding into other European markets.
Led by Bastian Krautwald (CEO and co-founder), and David Meyer (co-founder), wajve is a financial platform for Generation Z that combines comprehensive banking services as well as real-time tips to offer banking, advice, and education.
In November 2020, deineStudienfinanzierung was approved as the first digital platform to offer the German government-backed study loan from KFW. The student financing app now has over 100,000 registered students and earns a 6-digit monthly EBITDA. It will operate a ‘lock-in’ model to make money, leveraging initial customer acquisition to increase sales of financial products. The company now employs 20 people, with 20 more positions to fill, and has been profitable since late 2020.