Berlin-based wajve closes its seed round on €5m, as it looks to help Gen Z better manage their finances.
EQT led the round, with commitments also coming from 468 Capital and finleap. Several angel investors also committed capital to the round, including OneFootball CEO Lucas von Cranach), Dubsmash co-founder Roland Grenke and COSI CEO Christian Gaiser.
With the burst of equity, the startup is looking to accelerate its platform roll-out. Wajve recently launched to its first customers in Germany and will expand into other European markets soon.
The company claims to provide Gen Z with a platform to combine banking, financial education and advice into a single app. Users can track their financial status, get advice, get bonuses when using the affiliated card, get discounts, make investments and more.
Wajve, which was founded by Bastian Krautwald and David Meyer, will have its full launch later this year. Its goal is to help students find the best loans and scholarships to finance their studies. Students can apply online and receive a response within 18 minutes.
EQT Ventures founding partner Lars Jörnow said, “Swiftly after initial discussions, we saw the team’s unparalleled understanding of the needs of Gen Z. As a trusted financial advisory app, wajve has the opportunity to become a key fintech player in the European market, going where no company has before.
“Bastian’s long-term vision and the company’s strong go-to market strategy made wajve an irresistible opportunity for EQT Ventures to team up with”.
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