Goin is a mobile application that helps you save and invest without having to be a financial expert. The app, conceived by young entrepreneur David Riudor, who is passionate about fintech as well as magic, helps its users achieve goals such as buying a mobile phone or going on a trip. In a time of crisis in which saving has become one of the priorities, Goin continues to expand its model, adding users and reaching more countries.
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To do this, the application connects to the user's bank account and helps them save money to achieve these goals with various methods, such as accumulating small amounts by rounding up what they pay when making a purchase or retaining a fixed percentage when they receive income. But Goin also gives them the option to invest in cryptocurrencies or investment funds, offering risk levels according to each user's profile. With almost 400,000 users, 30% invest through the app and the average ticket is 185 euros.
Goin monetizes through users who invest in its products, but also through the products or services they manage to buy with its savings methods. The Barcelona startup does not specify its turnover in 2020, and the last available figure is from 2019, when they registered a turnover of 50,000 euros. For 2021, Goin aims to reach five million euros in turnover, considering that this January has been the first month since its creation in 2018 in which they have invoiced 100,000 euros.
With a staff of 28 workers, the fintech has raised more than 10 million euros in funding in three years, thanks to closing rounds and obtaining public aid. Among its investors, the funds Anthemis, KFund, and Encomenda stand out. The first round was in January 2018, for 600,000 euros; the second, in January 2019, for 1.6 million, and the third, in May 2020, for five million. Now, it is working on its fourth round, which should help it bring its product to countries like Germany and the Netherlands in the coming months. Currently, it operates in France and Italy.