Fundbae, a money app, which launched in November 2020, enabling individuals to reach their financial goals has hit the 100 Million Naira savings deposits mark in its first three months of operations.
Fundbae achieved this deposit milestone through patronage of its high savings/investment interest rate as well as customers’ flexibility in investing for shorter investment cycles of 24 hours and ability to access savings daily.
The app has four features:
- Flexbae, flexible savings account where customers earn interest on extra funds every 24 hours
- Save2b, which allows customers access a 200% loan of their total savings after a 6-month period
- Vault Lite, which enables individuals to save towards a particular financial goal,
- Vault Plus, a fixed savings option that allows customers earn higher interest per annum.
The Chief Executive Officer, Fundbae, Sola Adeyinka (CFA), stated that Fundbae was born out of a passion to help individuals achieve their financial goals, easily and seamlessly.
“We created the Fundbae app, which is a holistic and integrated goal-based experience that serves the financial life of our customers over the short, medium, and long term. We understand the struggles our customers face, especially during the pandemic, and that is why our Fundbae experience empowers our customers with services, resources to help them find fulfilment and happiness with their finances.”
“Our customers love the Flexbae feature because it allows them to save any extra fund and earn interest daily that can be spent on anything they want. So, they don’t need to wait till maturity before accessing their funds.”
In answering the question, “what is next for Fundbae?” The Chief Operating Officer, Femi Darabidan, stated that our focus for our customers is to do more of what helps them master their money. We will achieve this by creating more personalized tools and experiences on the app for individual financial growth. We will also create lots of avenues that will increase the financial literacy of our existing customers. We believe an individual can do their best to prepare for the future by getting their finances in order, no matter how much or how little they make.”
Fundbae, as of today, has over 3,500 active customers and is available to users on Web and Android platforms.
For more details, visit www.fundbae.ng or follow us on our social media platforms @fundbaeng
