SaviiUAE

Company Brief

Headquartered in Bahrain, Savii is a mobile banking app and Visa spending card designed for youth aged 13 and above. We want to be a teen’s first ‘bank’ account and spending card, enabling them to learn how to manage their money responsibly and empowering them to become financially independent.

Product

Teens get their own prepaid debit card that can be used online or in-store. They can send and request money from their friends in real-time, access discounts and rewards from their favourite brands, and use Savii pots to stash away money towards their savings goals. Our dual-mode app means parents can view all transactions made by their teens.

Target Market

We’re targeting the 100M+ youth in MENAT region who are currently ‘unbanked’ or ‘pre-banked’. Our initial focus is on the GCC market and we’re currently beta testing in the UAE

Business Model

We generate revenue through interchange fee which is ~2% of the transaction volume every time a Savii card is used.