New German fintech SaveStrike aims to help millennials invest and save

German fintech start-up SaveStrike, founded by Jan Wedemeyer, Konrad Krappen and Anton Engelhardt in February 2022, is developing a new mobile banking app designed to help millennials invest in capital markets.

SaveStrike is targeting 18 to 39 year-olds

SaveStrike’s app will aim to match an individual’s lifestyle and their saving goals with a suitable investment portfolio.

The company writes on its website that its vision is to become the go-to app for those aged 18 to 39 who want to benefit from returns on the capital market while also focusing on saving for the future.

The app will be split into four parts, each designed to make spending, saving and investing interconnected and straightforward. At its core, SaveStrike will provide always-on access to a current account and custody account in one app, alongside separate savings accounts.

SaveStrike Pay will provide all the usual current account functionality, including transfers, standing orders, QR code payments, ATM search and card settings.

Users will also be able to track their individual savings goals with SaveStrike Goals. Each goal has an individual duration, savings rate, risk classification and target amount.

SaveStrike Connect is the inspiration section of the app where users can gain insights into the shared goals of other users.

Lastly, SaveStrike Me will provide users with their spending and transactional data, as well as their saving behaviours and progress towards their goals. Users can leverage transactional analytics to determine their personalised savings rate.