Savings start-up Moneycado fires up for travellers
Moneycado, a new London-based savings firm that allows consumers to plan their travel budgets, has hit the market.
The start-up says it is building the world’s first savings account for travel, inspiring people to save towards their goals and making amazing travel financially accessible.
Customers set a savings goal and a rough departure date for their trip, input their travel style and Moneycado “does the rest”.
As customers reach savings milestones towards their goals, they unlock personalised rewards – although the firm hasn’t unveiled what these are.
The firm was launched by Oliver Mitchell, CEO; and Matthew Handley, product manager. Mitchell spent over three years working for HSBC.
Moneycado can be found on a browser, but primarily through Facebook chat. It’s a similar concept to Plum or Cleo, Moneycado’s bot connects users’ accounts and puts money away when needed.
Currently, Moneycado has an open waiting list, which has been open since early summer 2018.