The Next Generation Social Finance App For GenZ w/ Katrin Kaurov & Aleksandra Medina (Co-Founders)
In this episode, Shamus Madan talks with Katrin Kaurov and Aleksandra Medina about the creation and growth of Fridge, a finance app for Gen Z. They discuss user retention strategies, competition, building a community, raising capital, and the challenges in personal finance.
Key Points
- Fritch, a social finance app for Gen Z, aims to merge the benefits of fitness app communities with personal finance, helping users to set budgets, manage spending, and learn from a community.
- The app focuses on building a purpose-driven community where users can share their financial experiences and goals with close friends and an anonymized broader community, providing both support and aspirational benchmarks.
- Fritch differentiates itself from other finance apps by not just tracking finances but also by guiding users through community-driven financial goals and leveraging social media elements to make finance management engaging and less intimidating.
Hey everyone, thank you for tuning into the MBIT Podcast. In today’s episode, we have two guests joining us to talk about their startup, Frich, a social finance app for GenZ. Katrin Kaurov and Aleksandra Medina. Both Katrin and Aleksandra are Co-Founders of the company. Through traveling the world, Katrin and Aleksandra noticed their unhealthy spending habits and decided to take matters into their own hands. With 60% of millennials not able to cover just a $1,000 emergency expense, there has been an increasing number of consumers spending lavishly and above their means. The solution -- Frich (stands for F-ing Rich) is unlike any other finance app on the market in that it brings in the social aspect allowing you and your friend group to build healthy financial habits together.
Learn More About Frich Here: https://getfrich.com/
Twitter of Host: @mbitpodcast
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Transcript
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