XP invests in Olivia, the startup helps the user save – Link
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Fintech Olivia, owner of an application that helps its users save money, announced yesterday that it has received a contribution from the investment firm XP Investimentos. Olivia, which already has 450,000 users in the United States, is expected to start operating in the first half of this year. financial products offered by the brokerage firm, customizing the investments for each profile.
"With one click, the money saved by Olivia's user will become an investment in XP," says Moraes, co-founder of the company. This contribution, with no value revealed, follows a partnership between the two companies: XP launched last September the robot chat Max, developed by the team of startups. “/>
Lucas Moraes and Cristiano Oliveira launch the Olivia application in the United States for a year and a half
Launched a year and a half ago in the United States, Olivia is an application that aims to be part of people's financial planning. To do this, request a "license" to access the user's bank account and credit card data. So you can understand a pattern of income and expenses.
Then via a chat (which can even include GIFs and jokes), the tool asks questions and gives suggestions, informing the user of his financial situation and encouraging him to save at least a small portion of your income. – give advice on monthly purchases, out-of-home meals and even bank charges.
In the United States, the tool is already able to do price research in supermarkets of regions close to the user and to propose a new standard. "Based on the shopping list, she can tell if the person has to go to another establishment or change the day to go to the market to make the most of the offers," says Oliveira.
Over time, the idea of the company is that the user can save more and more money. In the United States, an average user saves 0.8% of family income a month when he starts using the service. According to the company, within 60 days of the start of the use of the application, this percentage climbs to 5.7%. With the surplus, the company hopes to direct its users to XP. If the user has an account at another broker, the badistant will give his opinion. "We want to bring the best to the user, evaluate what he has and suggest the XP products, which we believe are the best broker in the market," explained Moraes, State .
In order to make a profit, the company is betting on partnerships: Olivia makes deals – which can be done with chain stores of all kinds, restaurants and even banks, which can offer loans and investments via the application – begins to progress towards "monetization". In other words, it will no longer be a curious solution to become a profitable business. In the United States, the first agreements are already underway.
Moraes and Oliveira explain that the intention is not to collect the user directly. The strategy is to give it an advantage, such as a 10% discount for a particular fast food chain, for example. At this point, Olivia will propose to the client to share the benefit with her, giving her a 25% "commission". If you get a 10% discount – or 10 € – on an account of 100 €, for example, the user will spend more than 2.50 € to the application. (N n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n, arguments): n.queue.push (arguments)}; if (! f._fbq) f._fbq = n; n.push = n; n.loaded =! 0; n.version = 2.0 & # 39 ;; not. tail = []; t = b.createElement (e); t.async =! 0; t.src = v; s = b.getElementsByTagName (e) [0]; s.parentNode.insertBefore (t, s)} [documentwindow'script'//connectfacebooknet/en_US/fbeventsjs';fbq('init';1659995760901982');FBQ('track''PageView'(Nnnn)nnnnnnnnnarguments):nqueuepush(arguments)};if(f_fbq)f_fbq=n;npush=n;nloaded!=0;Inversion='';20nqueue=[]; t = b.createElement (e); t.async =! 0; t.src = v; s = b.getElementsByTagName (e) [0]; s.parentNode.insertBefore (t, s)} (window, document, & quot; script & quot; // connect.facebook.net/en_US/fbevents.js'); fbq (& # 39 ;, & # 39; 1659995760901982 & # 39;); fbq ('track', 'Pageview');
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