Chippit, a new digital banking app, has been released in Australia as a closed beta. The access is currently on the waiting list.
Founded in May of this year, Chippit claims to be a “social banking app” that allows individuals to invite with friends and family to save faster or borrow and buy at 0% interest rates.
Melbourne-based Chippit recently raised $ 136,000 (A $ 190,000) in pre-seed funding from venture capital firm Antler.
“We want to enable debt-conscious individuals, temporary residents and students with labor rights in Australia to reach their money goals faster and save interest-free by saving with their peers. We are building a solution for our company, “says Chippit.
“Our solution provides an economically healthy way to access credits and avoid compound interest from interest and ongoing fees.”
Through the mobile app, Chippit allows users to start a “savings pool” with up to 10 friends and set savings goals together. From the savings pool, groups can lend money to each other without interest or buy from their group account.
New banking app Chippit released in beta in Australia
Source link New banking app Chippit released in beta in Australia