Seedly Targets Singapore’s Millennials with New Personal Finance Mobile App

Seedly Targets Singapore’s Millennials with New Personal Finance Mobile App

by June 8, 2016
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Aimed at simplifying personal budgeting, Seedly is an app that lets you track your money in a simply and convenient manner.

Seedly personal finance mobile app singapore fintechBased in Singapore, Seedly provides a solution that works in three simple steps. First, you need link your bank or credit cards via a secure channel. The software then analyzes and aggregates your transactions historic. Finally, you can communicate with Seedly’s artificial intelligent chatbot to receive insights, patterns and recommendations.

The app utilizes behavioral machine learning to learn about your spending habits and let you know about discrepancies.

According to Kenneth Lou, co-founder and CEO of Seedly, the app is aimed at the Millennial generation. Speaking to TechInAsia, Lou said that the ideal user is 25, tech-savvy, fresh out of university, and on their first job. The idea is to centralize all bank accounts, credit cards and daily expenses in one place.

“The majority of personal finance solutions out there are very cumbersome [for Millennials], and there isn’t one place to pool multiple bank accounts together,” he said. “A lot of people also commented that they are too lazy to track their finances themselves.”

The startup has recently closed funding from East Ventures, which Lou said will be used for recruitment ahead of its launch later this year.

In May, Seedly was selected to enroll in the first phase of DBS Bank’s HotSpot program. Eight startups will be selected on August 01, to join the HotSpot Pre-Accelerator Programme.

 

 

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3 Comments so far

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  1. PeggyLim
    #1 PeggyLim 9 June, 2016, 07:30

    It could be interesting if their fake screenshot and overall solution pitch wouldn’t be a blatant rip-off of US-based Penny (https://play.google.com/store/apps/details?id=com.pennyapp). Very disappointing to see yet another local startup basically cloning an overseas one…

  2. Kenneth
    #2 Kenneth 10 June, 2016, 12:45

    Hi @peggylim! In fact, its a basic user chat interface, and there are a few players in this PFM space, not just pennyapp 🙂 In fact, there are Cleo, Olivia.Ai and Pennyapp. And we are doing a hybrid model between Quartz and Mint for this region. And we have updated our UI with a simple dashboard design to match the region. Do check out our updated site and try it out when we launch soon. Thanks again 🙂

  3. #3 Vietnams Personal Finance App ‘Money Lover’ | Fintech Singapore 20 July, 2016, 19:43

    […] way to track expenses and manage budgets. A new service expected to launch there next month is Seedly, a mobile app and personalized finance assistant targeted at the millennial […]

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