Kaldi is a savings and investment app that allows users to earn cashback from everyday purchases at partnered retailers, automatically directing these rewards into low-cost investment options from Fidelity and Vanguard. The platform addresses the challenge of low savings rates and financial complexity for Gen Z and Millennials by providing straightforward tools to visualize savings goals and manage investments effortlessly.
Funding
$7.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many Gen Z and Millennial individuals face challenges in building savings and navigating the complexities of investment options, leading to low savings rates and a lack of financial security. Traditional savings methods often offer low returns, while investment opportunities can seem daunting and inaccessible.
Solution
Kaldi is a mobile application designed to simplify saving and investing by automatically directing cashback rewards from everyday purchases into low-cost investment funds. By partnering with a network of retailers, Kaldi enables users to earn cashback on their regular spending, which can then be saved or automatically invested in curated funds from providers like Fidelity and Vanguard. The platform aims to demystify money management and make investing more accessible, allowing users to visualize savings goals and effortlessly grow their wealth. Kaldi also offers features like round-ups and the ability to gift cashback to others, further promoting financial wellness and shared savings goals.
Target Audience
Kaldi primarily targets Gen Z and Millennial users in the UK who are looking for an accessible and automated way to save and invest, particularly those who are new to investing or find traditional methods challenging.
Features
- Automatic cashback rewards on purchases at over 100 partnered retailers, including supermarkets and high street brands.
- Seamless integration with Fidelity and Vanguard to offer low-cost investment options.
- Goal visualization tools to help users set and track progress towards their financial objectives.
- Option to round up purchases to the nearest pound, automatically saving the difference.
- Ability to gift cashback rewards to friends and family, encouraging shared savings.
- Option to send cash to other users within the app.
- Budgeting tools to help users become "super savers" through account sweeps.