I came across this new “bank” I’m not sure what they are yet as they are not regulated by anyone…" Kaldi App " and I wanted to see if anyone had checked them out and had an opinion.
Worth noting that they have recently launched their crowdfunding too.
So - not at launch stage yet. Pre-paid card you use for spending and the cashback is invested. The investment is managed and incurs as yet unstated fees. Not clear yet quite how much access you have to your cashback savings pot.
They’re currently crowdfunding……
Interesting for some, maybe. We’ll see.
I never really know how these companies propose to make money if giving away this much cashback.
Seems like they don’t even have enough VC money which these little fintechs usually burn through before crashing. So they need to take to the streets with their paper cup to fund their year or so of office beer before shuttering it all.
That said I’d take a card if it’s free.
The sort of cashback scheme they’re running doesn’t actually cost them anything. In fact if customers use it then it’s another revenue stream for them.
It also seems to tie into an investment product they will likely try to upsell you to. Your cashback gets invested or saved. If invested there will be fees they charge to also make money from.
I’d have a jolly good read of their privacy policy if I were you before I consider collecting that card.
I had a couple of speed-reads of the app - couldn’t see a simple savings aspect to it. I’ve assumed (possibly wrongly) that the key for them is investment management fees.
Having been burnt with a Dozens investment I wont be partaking. R-
Where are they at now? Does PI still offer other services?
Yeah it is an interesting idea, but I’m glad I’m not the only one with a bit of skepticism about this one. It all just seems a bit strange, they’ve been around since November 2021 and all they seem to have to show is a horrid website and a set of “screens” probably made by a 12 year old on Canva/figma. so basically nearly £2m down the drain.
I definitely won’t be investing but I’ll take a card to see what is it like, if they ever launch. 
Not sure about other services, but I don’t think so. I’ve put the Dozens shares on the continuous sale option but they are not currently eligible. Chat on Seedrs suggests there may be a partial pay-out, but I’m not holding my breath. R-
It’s step 3 in the how it works flow!
Your cashback goes into a savings pots, and you can then choose to save it or invest. That’s my takeaway from the explanation.
Although I suspect it’s going to push more towards the invest it approach, savings are part of the flow. Depends on the rate, but there’s potentially money in it for them for those who leave it in savings too.
My thoughts exactly. I’d take a swing at it if pure savings turned out to be an option. Investing - definitely not.
I’ve asked the question of them. That was a trial in itself as the only place I could see to do that was using Messenger.
Not holding my breath. 
The app has now launched and has been available a short while.
The app is a actually not bad. Aimed at under 30s from what I can tell. There doesn’t seem to be any interest on the savings pot but you can set it to be automatically invested.
Nothing revolutionary but could be popular.
I passed that demographic last century
Don’t worry I’m not getting any younger myself…
I feel like I’ve outgrown these types of apps now 
