Berlin-based financial app for Gen Z wajve has raised €5 million in a seed round led by EQT Ventures with participation from 468 Capital. Angel investors Lucas von Cranach (CEO of OneFootball), Roland Grenke (co-founder of Dubsmash and Acapela Group), and Christian Gaiser (CEO of COSI) are also on board. Wajve is reporting that the funding will be used to accelerate the roll-out of the platform in Germany before expanding into additional European markets.
Founded in 2021 by Bastian Krautwald and David Meyer is a financial platform that offers banking, financial advice, and education all under one umbrella, with the specific goal of meeting the digital native Gen Z generation, who now compromise 32% of the global population.
Building on the success of their first app, deineStudienfinanzierung which gives students the option to find the best loans and scholarships to finance their studies, Krautwald and Meyer are going one step further with wajve and addressing Gen Z’s increasing concerns about their financial futures.
“EQT Ventures expertise in fintech and scaling companies internationally made them stand out as an investor. It’s our ambition to become a trusted financial advisor to Gen Z across Europe, supporting the next generation to achieve financial stability and independence. It was clear that the EQT Ventures team joined by the 468 team understood the importance of this, so working together was a natural fit,” comments CEO Krautwald.