Faced with the lack of appeal of traditional savings accounts, the start-up Cashbee simplifies access to smarter and more responsible savings, guaranteeing security and ease of use for savers.

 

Founded in 2018 by three partners (Marc Tempelman, former investment banker, Cyril Garbois, former consultant at A.T. Kearney, and Chaker Nakhli, PhD in computer science) and based at Platform58, La Banque Postale's start-up incubator, Cashbee is a savings platform that simplifies access to responsible investments.

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After an initial round of fundraising from business angels in September 2019, the young fintech company has already launched three products: an interest-bearing savings account for everyday (or precautionary) savings, and, on the long-term savings side, a thematic life insurance policy and a real estate investment solution.

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It all started with a bitter observation about financial investments: “Individual savings in Europe are very poorly allocated,” according to Marc Tempelman, co-founder. “Today, too much of it is sitting in bank accounts that yield nothing for savers. This widens social inequalities, does not support economic growth, and weighs on pension funding.” In 2020 alone, the French set aside more than €100 billion, including €35 billion in Livret A and LDDS savings accounts and some €50 billion in current accounts.

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Simplified access to responsible savings

The service is presented as a smartphone app: “The Cashbee app allows users to put their idle money to work in less than five minutes by signing up—free of charge—to one of our investment plans.” 

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For its interest-bearing savings offer, the start-up is partnering with French bank My Money Bank, which offers a traditional savings account. The account pays 2% interest for 3 months, followed by 0.6%, with no limit on the amount (the bonus rate applies up to a limit of €75,000). The choice of a French bank means that it is regulated by the Banque de France, which guarantees deposits up to €100,000 under the Deposit Guarantee Scheme. 

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For life insurance, the start-up has partnered with Generali, which manages the invested funds. As with My Money Bank, Cashbee acts as an access facilitator. Everything is managed from the app: choosing investment themes or funds, subscribing, signing. In just a few minutes, users can subscribe to a Cashbee+ contract.

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There are two types: Cashbee+ and Cashbee+ Immo. Both offer the usual advantages of life insurance—liquidity, tax benefits, and low fees. But they differ in other ways. 

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Cashbee+ is structured around five “impact” themes. Users can choose to tailor their portfolio to causes that are important to them: climate, social inclusion, technology, or even all three. Each of these profiles is SRI-oriented (for socially responsible investment). "This means that at least 70% of the investments made by managers on behalf of our savers are in SRI or Greenfin-labeled vehicles. "

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Cashbee+ Immo is positioned as a complementary offering. It is designed to help users diversify their portfolios and invest for the long term. The offering provides access to two real estate collective investment undertakings (OPCI), one with an SRI label and the other in the process of being certified.

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“We believe that financial profitability and responsibility can and must go hand in hand, and that one does not come at the expense of the other. We think that most savers prioritize financial profitability. So we provide them with simple solutions that allow them to give meaning to their savings without deviating from this primary objective,” explains Mac Tempelman. 

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“Transferring a portion of dormant individual savings to long-term investment vehicles is a powerful opportunity to make a concrete contribution to the energy transition, the fight against global warming, and social inclusion.”