Stash by Liberty is an android app that invests your spare change.
Juan Labuschagne, head of development at Stash, says every time you swipe your bank card, the app rounds up your transaction to the nearest R10 and invests it in South Africa's top 100 companies.
If you spend R9.99 we'll split that one cent into all the different companies and actually invest it.— Juan Labuschagne, Head of Development at Stash
We group all that money with everyone's stash and invest in South Africa's biggest companies.— Juan Labuschagne, Head of Development at Stash
To use the app, Labuschagne says all you need is a cell phone number, your first name to register and you are good to go.
Stash monitors your bank balance and ensures you don't go into overdraft. He says Stash wants to make it easy for people to invest.
The smartphone is an incredibly powerful device.— Juan Labuschagne, Head of Development at Stash
Labuschagne explains that currently android users are their target market, as it's more popular in South Africa than iOS.
And if you choose to withdraw the invested funds, it's simple with no rules and restrictions.
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This article first appeared on 702 : Stash your cash with this new app (and save painlessly)