Collecting Spare Change with 'Tickle' and Investing It on 'Daily Funding'

- DailyFunding launches spare change diversified investment service in collaboration with Tickle

‘Spare change finance,’ which collects change under 1,000 won generated every time a purchase is made by card and invests it in small amounts, is gaining great popularity among the younger generation. This is because the financially constrained 2030 generation can easily access savings and investments without burden, and can conveniently use the service via mobile.

Comprehensive P2P finance company Daily Funding launched a ‘spare change diversified investment’ service on the 13th of last month in collaboration with the spare change savings startup Tickle. Spare change diversified investment is a spare change financial service that collects leftover money under 1,000 won after payment with a card linked to Tickle and invests it in P2P products provided by Daily Funding in units of 10,000 won.

Financial institutions such as Shinhan Financial Group and IBK Industrial Bank have introduced spare change finance services that collect spare change to invest in overseas stocks and funds, but this is the first time investing in P2P products.

Daily Funding’s spare change diversified investment is targeted at the younger generation and has received much praise from people in their 20s. In fact, since the service was launched, the investment proportion of users in their 20s was the highest at 68.3%, followed by those in their 30s (13.7%).

Demand for spare change investment is also analyzed to be high. During the same period, 44% of new members who joined Daily Funding through the Tickle app used the ‘spare change diversified investment’ service. Considering that Tickle’s main service is ‘spare change savings,’ which automatically deposits spare change into a securities company CMA account, this is a considerably high figure. The ability to invest small amounts starting from 10,000 won and automatic investment in products with annual returns of 9?16% are cited as attractive factors.

Daily Funding plans to attract potential 2030 customers who are not familiar with investment and finance by leveraging Tickle’s simplicity and high accessibility. Tickle can also expand its business area by incorporating various investment services based on spare change finance onto its platform through Daily Funding.

Lee Hae-woo, CEO of Daily Funding, stated, “With the spare change diversified investment service that combines savings and investment, we will lower the financial technology barriers for the 2030 millennial generation and reduce their financial burden. We will take the lead in revitalizing the domestic micro fintech market by leveraging the synergy of collaboration with Tickle.”