September starts with great news for the fintech sector: iCashly, the app for payments and digital investments that is successfully continuing its equity crowdfunding campaign – which will end in a month and which has already raised over $213,000 (€180,000), exceeding the first target of $118,000 (€100,000) – on CrowdFundMe, the only Crowdinvesting platform (Equity Crowdfunding, Real Estate Crowdfunding and Corporate Debt) listed in Piazza Affari, is about to be launched on the market.
Find out more about the crowdfunding campaign for the launch of a new app in the sector of digital payments and online savings management, iCashly, with our companion app. Download for free the Born2Invest mobile app available for both Android and iOS devices, and find the most important finance news in the world.
iCashly will have features for the financial education of its users
iCashly is a platform, under development, created by Rigsave Tech, which is part of Rigsave Spa, a financial group that owns, through Rigsave Capital ltd, the savings management company license, a license that will represent a great competitive advantage for the new app.
iCashly wants to present itself on the market as a hub for the management of personal finances, integrating, thanks to artificial intelligence algorithms, highly evolved and customizable Savings and Budgeting functions (payments and income/exit monitoring). In addition, the app will have features for the financial education of users.
The digital payments segment is in strong demand
The segment of digital payments and online savings management is experiencing a moment of strong expansion: at the moment, there are about 3 million people in Italy who regularly use smartphone payment services, while transactions in 2019 through smartphones amounted to $3.6 billion (€3.1 billion) and card payments to $320 billion (€270 billion).
As for asset management services, our country offers $5.17 trillion (€4.37 trillion) of private wealth, $1.78 trillion (€1.5 trillion) of liquidity, an average balance of $18.900 (€16,000) in current accounts, and assets collected for $28 billion (€23.7 billion) in 2019 alone, according to data from Bankitalia.
At the end of the iCashly financing round, Rigsave Tech will start the procedure with the Bank of Italy to be certified as an authorized payment institution. The team led by founder & CEO Salvatore Gervasi will then launch the platform in Italy, thinking immediately about Europe (where the company has a strong presence), and then focus on the United States and China.
The campaign on CrowdFundMe will help implement the technology
The equity crowdfunding campaign on CrowdFundMe will serve to raise funds for the implementation of the technology, with the development of back end and front end of the application, services for obtaining the payment institution license and marketing activities, in particular for “lead generation” actions, in order to extend the waiting list for the launch of iCashly.
In addition, part of the budget will be allocated to the creation of an automation marketing structure, dedicated to user acquisition, management, and retention. In a second step, new professional figures will be hired and research and development activities will be developed, aimed at integrating other services into the platform.
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This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in affaritaliani.it, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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