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.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
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.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
The Viechtach brewery launches a crowdfunding campaign to cope with the health crisis
The Viechtach brewery in the district of Regen is trying to fight the corona crisis with crowdfunding. Owner Markus Grüsser...
The support for medical cannabis is growing in Spain
The percentage of Spanish people who support the use of medical cannabis rises to 90% (from 84% in the previous...
Sanofi boosts its consumer healthcare business in Spain with a new company
The company says the operating context of the self-care industry is different from that of the prescription drug industry. Sanofi,...
China and the USA lag behind Europe in terms of ESG
Europe is not only a leader in climate protection but in ESG matters in general. As in previous years, Fidelity...
America is bordering on a water infrastructure crisis
The water purification problem is compounded even more because drinking water also is contaminated daily by industry, antiquated lead pipe...
Featured7 days ago
Micro-entrepreneurs in Mexico are turning away from banks to obtain loans
Crowdfunding7 days ago
Sono Motors counts over 13,000 reservations for Sion
Business6 days ago
Using images in your website: what you need to know
Crypto5 days ago
ETC Group launches first ETP on centrally cleared cryptocurrency Litecoin