The female-founded neobank for GCC unbanked segment Gen-Z, Savii has launched their loyalty program app in Bahrain after closing their pre-seed round.
According to the statement, Savii’s product offering has been designed by working together with Gen-Z representatives, following months of market research in the Middle East and North Africa (MENA) region and Bahrain.
Under the tagline “Designed by Teens, For Teens”, UAE-based Savii brings to the market a neobank with the mission of understanding the gen-z consumer and serving their choices and lifestyle while educating them on the fundamentals of financial literacy and empowering them to become financially independent.
Ms. Omaima Mosharaf, one of Savii’s Youth Advisors in Bahrain, commented that, “As Gen-Z, we are by definition “digital-ites” which means we spend a lot of time on the internet and social networks, keeping up with the latest trends and insights.
“Some of Savii’s features include having our very own debit card, sending and requesting money, keeping track of our spending, and earning discounts and rewards. They may seem like very simple features, but once we all have a Savii card in our hands, we’ll be ready to become financially independent, and we’re super excited about it,” noted Ms. Mosharaf.
Ms. Jane Harvey and Ms. Nichola Collinson, co-founders of Savii, recently closed their pre-seed round where regional strategic investors participated and joined Savii’s mission to establish a financial product for the unbanked and underserved strata of the regional population represented by Gen-Z.
Ms. Collinson remarked that, “After talking to hundreds of teens across the region, we quickly realized Savii’s focus must be on giving them the financial independence they crave. Today’s youth want to take responsibility for their own finances, make their own decisions about how they spend and save and, as a by-product, learn through practice not theory.”
As per the statement, Savii will initially be available for teenagers aged 13 to 18 in Bahrain, and the app is now available to download in Apple Store and Google Store.
