UnitPlus partners with Vodeno and Aion to launch ETF investment product

Thursday 14 July 2022 14:39 CET | News

UnitPlus, a Germany-based startup, has launched an exchange traded fund (ETF) investment product with an integrated payment mechanism.
UnitPlus launches ETF investment product

UnitPlus, Vodeno, a Banking-as-a-Service (BaaS) provider, and Aion Bank, a European digital bank, combined forces to help savers to become investors by helping them invest unused money and make potential market returns to fight inflation, all while retaining instant access to cash.

UnitPlus has created a product that lets you both invest money and ‘pay with your portfolio’, aiming to help people access this flexible way of investing.

According to the official press release, UnitPlus went live for German iOS users at the beginning of May 2022 with thousands of downloads in the first days, and the app is now also available for Android devices in Germany.

UnitPlus customers invest their unused money in diversified ETF portfolios and can pay with their portfolio by using the UnitPlus debit card through the ‘pay-with-portfolio’ mechanism, worldwide and free of charge.

The partnership

The product development was made through the partnership with Aion Bank and Vodeno, which gave UnitPlus access to a modern banking infrastructure.

Aion Bank and Vodeno, commercial partners offering Banking-as-a-Service (BaaS) solutions, provide the banking backbone for UnitPlus, including card and payment functionality, authentication and compliance, and Aion’s ETFmatic powers the access to the worldwide markets.

UnitPlus is one of the examples of how fintech innovation can be powered by BaaS. Using the VODENO Cloud Platform, the KYC and compliance expertise, it was made possible to integrate the investment and payment worlds in a way that will introduce ETF investing to other people.

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Keywords: partnership, product launch, investment, startup, BaaS
Categories: Banking & Fintech
Companies: UnitPlus
Countries: Germany
This article is part of category

Banking & Fintech


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