Savemates

An attempt to digitise a Rotating Saving and Credit Association (ROSCA) — "a very old concept that predates formal banking and makes it possible for unbanked people to save money together." From the post-mortem: "Things we learnt trying, and failing, to build a regulated social savings service called Savemates. Short version - financial services sucks for startups." The idea started with a conversation between Nick and Paul, who had both arrived at the concept independently.