FinovateEurope alum Spiff has teamed up with Norwegian life insurance corporation, Nordea Liv, to develop its social savings app. Together the two companies will begin a pilot project of the app for a limited number of users “very shortly,” with a full launch anticipated “before the summer.”
“Our aim is to lower the bar and make it easier for everybody to save by offering them the most innovative, efficient, and user-friendly saving and investment platform,” founder and CEO of Spiff, Carl-Nicolai Wessmann said. Nordea Liv CEO Randi Marjamaa added that with individuals increasingly responsible for managing their own finances – including pensions – solutions like Spiff are especially valuable. “Spiff offers us a new approach to saving that is easy, fun, and social,” Marjamaa said. “It is more important than ever to save.”
Pictured (left to right): Kristin Juland Møller (Social Media and Communication Manager) and Carl-Nicolai Wessman founder and CEO) demonstrating the Spiff savings app at FinovateEurope 2016.
Spiff enables users to create personalized savings plans and share them with family and friends. Users begin by choosing goals – personal goals, children’s future, or rainy-day savings – which help the app shape the appropriate saving plan for each individual. They name the plan, add a brief description of the savings goal, and then choose a monthly savings amount, with allocations going to either a connected bank account or a fund. Users choose a transaction date for the funds to be transferred, confirm all selections, and the savings plan is set. The app makes it easy to build additional savings plans (for children, for example; as well as for other goals), and to send completed savings plans to relatives and friends, encouraging them to contribute.
Founded in 2015 and headquartered in Oslo, Norway, Spiff demonstrated its simple savings app designed with women in mind at FinovateEurope 2016. The company has raised NOK 10 million in funding and includes Sverre Munck (former board chairman of Opera), Trond Riiber Knudsen (TRK Group), and StartupLab’s Founder Fund among its investors. Last summer, Spiff announced a partnership with developer startup, Fink , providing a engineering boost to the company. We featured Spiff’s Kristin Juland Møller in our International Women (in Fintech) Day post last spring.