When I want to know about banking and finance I come to Refi Review - Reader
March 26, 2024

Fintech Yondr Money snatches up nano-gifting app Shouta.

TLDR: Fintech Yondr Money acquires nano-gifting app Shouta

  • Yondr Money, a payments platform, acquires nano-gifting app Shouta to enhance personalized financial experience.
  • The acquisition is expected to tap into a new user base of 44,000 individuals and over 250 businesses.

Fintech Yondr Money buys nano-gifting app Shouta

Melbourne-based payments, loyalty, and budgeting platform Yondr Money has acquired Australian nano-gifting app Shouta for an undisclosed sum. The move is aimed at improving the personalized financial experience they offer and expanding their user base to include 44,000 individuals and over 250 businesses.

The app, founded by Carly Shamgar and Nick Redwood in 2020, allows users to send small gifts such as coffee or drinks instantly via a digital Shouta Mastercard. Yondr Money, co-founded by Shane Chanel and former ANZ CEO Mike Smith in 2017, focuses on simplifying financial management and saving users from hidden fees. With millions of dollars worth of transactions processed since its launch in 2022, Yondr Money sees this acquisition as a pivotal moment for both companies.

CEO Shane Chanel believes that combining Shouta’s gifting technology with Yondr’s financial management solutions will create more seamless, engaging, and rewarding experiences for users across Australia. The acquisition follows Yondr’s recent grant of an Australian Financial Services License by ASIC, enabling them to provide innovative financial solutions more effectively.

By acquiring Shouta, Yondr Money aims to transform the way customers interact with financial services, adding a level of personalization and enjoyment rare in the industry. The purchase aligns with their vision of making financial services more efficient and accessible, propelling them forward to innovate and expand their offerings at an unprecedented pace.