Wajve, a Berlin-based financial app for Gen Z, has raised a €5 million seed round, led by EQT Ventures with participation from 468 Capital.
The funding will be used to accelerate the roll-out of the platform, which provides a combination of banking services and daily financial advice for the younger generation, for the first customers in Germany before expanding into other European markets.
The startup is the second company to be launched by 24-year old Bastian Krautwald and co-founder Dabvid Meyer, who built deineStudienfinanzierung, an app that enables students to find the best loans and scholarships to finance their studies. Students can apply online and get a reply within 18 minutes, minimising the financial stresses of going to university.
The student financing app now has over 100,000 registered students, providing a rich source of customer references for the co-founder's new venture Wajve.
Says Krautwald: “It’s our ambition to become a trusted financial advisor to Gen Z across Europe, supporting the next generation to achieve financial stability and independence.
Along with EQT Ventures and 468 Capital, the new fintech has attracted support from fintech venture builder Finleap and a number of notable financial angels.