25 May 2015

Qapital takes PFM to the next phase with proprietary account integration

17 April 2014  |  4463 views  |  0 wallet

Swedish financial management start-up Qapital is preparing to launch in the US with a service that enables users to track their spending, set savings goals, and transfer cash to a savings account held by an FDIC-insured banking partner.

Qapital moved out of beta late last year, with a smartly-designed PFM app that incorporates all the usual account aggregation, spending, budgeting and goal-setting tools.

However, in creating a Qapital savings account - as revealed by TechCrunch - the firm is taking the PFM concept one-step further, moving into the territory occupied by disruptive 'bank 2.0' outfits such as Moven and Simple.

"We're going after the 20% or 30% of your income that's spent on crap," founder and CEO George Friedman told TechCrunch. "It's that huge chunk of your money that you don't remember spending or don't care about at the end of the month."

Friedman says the firm will initially launch in the US as an account aggregation and budgeting tool. "The savings piece, and moving money into our partnering banks, will launch after the summer."


Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

29 November, 2013
13 June, 2013
26 January, 2012
27 October, 2011
15 March, 2011
10 February, 2011
01 February, 2011
12 January, 2011
11 January, 2011
23 August, 2010

Top topics

Most viewed Most shared
Cash overtaken by non-cash payments in the...
7081 views comments | 48 tweets | 31 linkedin
UK opts out of European online payments se...
6324 views comments | 20 tweets | 15 linkedin
MasterCard launches personal payments serv...
6070 views comments | 15 tweets | 28 linkedin
US banks bid to crack down on 'card cracki...
5644 views comments | 8 tweets | 10 linkedin
Metro Bank to offer consumer loans via Zop...
4871 views comments | 29 tweets | 21 linkedin

Featured job

to £120K base ($185K base) + bonus, benefits
London or New York City (UK or USA)

Find your next job