Mespo, the Bot for Personal Spending, Banks on Saving You Money
by Startacus Admin
We are liking the look of Mespo, a bot for personal spending, that not only identifies when you might be overspending, but actually sets about fixing the overspend too.
Mespo (until very recently called Mobillity) is on a mission to help you stop getting ripped off.
Co-founded in 2016 by Lukas Zoerner and Julien Deray, and now a team six strong, Mespo set out to build an impartial financial service, that harnessed the power of technology for good. If banks can benefit from intelligent money management, then why can't everyone else? Mespo is your personalised money advisor, which not only identifies that you might be overspending, but actually sets about to fix it for you too. No more overspending on bills, subscriptions or forgotten credit card payments. It delivers impartial updates and insights into your finances via Facebook Messenger and even goes one step further and does all the paperwork for you too once you decide to save money through the platform.
Fully impartial I hear you ask?
Their business model is unique as they take a 10% share of the savings they can achieve, making them fully impartial and less like the traditional consumer saver app or saver site that makes its money by getting
commissions from other companies, such as energy suppliers or banks. Mespo thinks that such a model provides a conflict of interest and in order to provide the consumer with a personal spending saver service, they need to be impartial.And it's so far, so good for team Mespo with their most successful saver customer to date, saving £581 per year from using their Facebook Messenger powered bot / chat service.
They recently took part in AG Elevate, a fast track 12 month program for selected FinTech companies in the UK and which is designed to accelerate them through startup legal challenges. They have previously taken part in the London Startupbootcamp FinTech accelerator programme and only last month were selected to pitch at one of the largest FinTech conferences: @money2020.
Now with their recent name change to Mespo, the team are all set to further cash-in on their success to date. We look forward to hearing more about their personal savings bot - you'd bank on it!
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Published on: 24th July 2017
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