Connect with us


The fintech company Rigsave Tech prepares the launch of the iCashly app

Rigsave Tech will launch the app iCashly. The launch will be financed through a capital increase, which will be subscribed by the parent company Rigsave spa, and through an equity crowdfunding campaign. The app makes it possible to manage personal finances and use Rigsave Capital’s investment services. The services and products are provided through machine learning and AI systems.



This picture show a person using his laptop.

The launch of Rigsave spa on the Stock Exchange is planned at the end of 2021. Rigsave spa is the newborn holding company of the group headed by the Maltese asset manager Rigsave Capital Ltd, the Luxembourg-based Rigsave sicav sa, the Rigsave Absolute Alpha Fund (RAAF) and Rigsave Tech srl.

Rigsave Tech is an innovative startup in the fintech sector. The company is currently working on the launch of iCashly, a personal finance management app aimed at banking clients. The app should be launched in the first half of 2021. This was said live on Facebook by the founders of the group, last April 15th. Rigsave is planning to open two offices in Italy (Milan and Turin) in the second quarter of 2021.

Rigsave spa is headed by Salvatore Gervasi, Michele Basilicata, and Giovanni Gervasi and has already raised over $1.62 million (€1.5 million) from 120 shareholders through its personal network. To date, the entire group has 16 employees and external collaborators. It plans to hire a further 30 commercial and operational figures over the next 2 years.

If you want to find the latest business news in the fintech sector, download for free the Born2Invest mobile app.

The launch of iCashly app will be financed through a capital increase

As for Rigsave Tech, founded in April 2019, the launch of the app will be financed through a capital increase, which will be subscribed by the parent company Rigsave spa, and through an equity crowdfunding campaign, mainly aimed at raising awareness of the fintech company and its app. The campaign will be launched once the partnership with a bank has been signed. RigSave Tech is currently engaged in negotiations with three different banks in order to find a partner to provide payment services.

SEE ALSO  How to nail Social Media for eCommerce

The app makes it possible to manage personal finances and use Rigsave Capital’s investment services. The services and products are provided through machine learning and AI systems, with the aim of simplifying the end customer’s approach to finance as much as possible.

The iCashly app is in the prototyping phase and a demo has already been launched for illustrative purposes. With the app, the costs of distribution and placement of products will be reduced to zero, which can be accessed not only by HNWI, but also by affluent and retail customers.

Rigsave Capital offers customized asset management services

Rigsave Capital Ltd, based in Malta, is an asset management company, authorized by the Malta Financial Services Authority (MFSA). It has the freedom to provide services by the Bank of Italy and seven other supervisory authorities for financial intermediaries in Luxembourg, Germany, Spain, Portugal, the Netherlands, and France.

Rigsave Capital offers customized asset management services, with a focus on structuring financial products tailored to the needs of individual and professional clients. In particular, it is a general partner of the Raaf fund (acronym of Rigsave Absolute Alpha Fund), a closed-end investment fund, set up as a Special Limited Partnership managed by Rigsave Capital sàrl. The capital raised through a bond issue of the Pareto Securities sàrl securitization spv, set up in 2017, was paid out.

The issue in question is a $270 million (€250 million) performance linked bond maturing in September 2024, which was listed on the Vienna Stock Exchange in September 2019. Each month, if the NAV of the fund shows a positive performance, it is distributed, through a coupon, 70% to bondholders and 30% to Rigsave spa shareholders.

SEE ALSO  Board of directors ousts Harvey Weinstein; future uncertain for Weinstein & Co


(Featured image from pxfuel)

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 BeBeez, 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.

Isaac Atwood is a PR and marketing consultant who has worked with respected names in the financial industry. He has also sat down in many sessions with startups aiming to become the next unicorn. Isaac loves working with CEOs, business executives, and entrepreneurs who wish to enter the following markets: artificial intelligence, cannabis, virtual reality, cryptocurrencies, robotics, wearable and smart tech, and even the much-hyped space race. He is currently managing the brand portfolio of an Asian firm planning for its IPO by the end of the year. While his engagements have taken him around the world, Isaac is proud to call Toronto his home.