In an exciting announcement today, the Austrian FinTech startup, Monkee, specializing in sustainable savings, revealed a new partnership with Germany’s Vereinigte Volksbank Raiffeisenbank. Additionally, Monkee secured new investments in the seven-digit euro range. Berthold Baurek-Karlic, President of the European Super Angels Club (ESAC), expressed congratulations on Monkee’s achievements. It highlights ESAC’s continued support as an early and existing investor. With a 20% stake in Monkee, ESAC provides not only financial resources but also invaluable network and growth expertise.

Partnership with Vereinigte Volksbank Raiffeisenbank

Monkee, renowned for pioneering the “Save Now, Buy Later” concept, offers users a seamless and intelligent approach to achieving their savings goals. Embarking on a significant phase of growth, Monkee initiates a partnership with the esteemed Vereinigte Volksbank Raiffeisenbank eG (VVRB). Users can now set up their savings plans within the app, with designated funds deposited and earning interest in a free VVRB account.

“The partnership with Vereinigte Volksbank Raiffeisenbank brings together two entities sharing core values of financial health and user empowerment. We are delighted to see Monkee leveraging the potential we recognized early on, continuing to thrive on solid foundations,” remarked Baurek-Karlic on the new collaboration and investment.

Customer-centric Approach

Monkee prioritizes customer convenience by offering free savings plan setups and introducing Cash-Back options to expedite goal achievement. Through the innovative Smart Money Payment Card users can earn returns on purchases. These can be made both offline and online at over 470 partner outlets. Monkee developed the card in collaboration with Visa and Payment Service Provider Qenta. This approach undoubtedly fosters a win-win scenario. It is enhancing user reliability in achieving savings goals while providing increased visibility and loyalty for merchants. Therefore, it is strengthening the community’s long-term financial health and purchasing power.

Monkee’s innovative approach has garnered recognition, winning accolades such as the Austrian Retail Innovation Award and the Payment Pioneers Award. With over 250,000 downloads to date, the app has facilitated users in reaching savings goals totaling €250 million.

Voices from Project Partners on the New Collaboration

Ralf Magerkurth, Board Member of Vereinigte Volksbank Raiffeisenbank, highlighted the synergy between Monkee’s vision and their strategy of offering innovative and customer-friendly financial solutions. He expressed pride in providing Monkee’s forward-thinking solution to their customers to aid in achieving their savings goals.

Martin Granig, Co-founder, and CEO of Monkee, emphasized the significance of the partnership. In detail he states, “This investment and collaboration with Vereinigte Volksbank Raiffeisenbank reaffirm our commitment to helping users achieve their financial goals in a sustainable manner.”

Christian Schneider, Co-founder, and Chief Product Officer, added, “Our unique blend of personal finance and loyalty enables users to reach their goals even faster by aligning essential purchases with our merchant partners. Partnering with VVRB marks a pivotal step in strengthening our offering with an attractive interest product for long-term savings plans and further building customer trust through a reputable partner.”

In the wake of Monkee’s recent achievements, the European Super Angels Club (ESAC) extends warm congratulations to the innovative FinTech startup. ESAC takes pride in being an early and steadfast supporter of Monkee’s vision for sustainable savings solutions. As Monkee forges ahead with its strategic partnerships and customer-centric innovations, ESAC remains committed to supporting its journey towards reshaping the landscape of financial wellness.