The Problem

What problem are we solving?

There are 143 million GenZ young adults in Europe alone, of which most have an average savings of $5,300. Traditional savings products are not attractive or profitable for younger generations due to the fact that the principal (the budget available to save/invest) and traditional finance interest rates are both very low.
To produce any tangible profit with their level of savings would require a very long investment time horizon and much higher average interest rates on savings in traditional bank accounts. In order to make their savings work for them and earn returns, young adults are repeatedly engaging in high risk/high stakes alternatives such as gambling, lottery or speculation on random cryptocurrencies to earn higher returns.
By helping Gen-Z switch their understanding of personal finances through an easily accessible platform, the Rand App empowers younger generations to make smarter financial decisions and grow their wealth, removing one of the most common pain points for young adults! Rand also encourages investing and saving now to pay for larger expenses later.

Market Opportunity

Let's look at the market opportunity, using Europe as our starting point. Europe’s current population is 746 million. Of this, 20% are GenZ young adults who have at least one subscription, or 143 million people. The average GenZ has a median savings of $5,300. Subscriptions are a growing trend and are often shared between friends and family. GenZ can pay their subscriptions and expenses with their savings using Rand App.
If we target the top 1% of the market, we will have 1,432,320 users moving $5,300 in savings onto Rand, which would equal $7,591,296,000 in deposits. This is the market opportunity for GenZ in Europe alone, we plan to launch in South America and Asia by the end of 2022 so watch this space.