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ADDaBIT, the recently-launched online crowd-sourcing savings platform continues to grow with more and more people seeing the benefit of contributing to a fund for family and friends.
Now ADDaBIT has introduced a new feature that allows contributors to share a fund using social media networks.
Michael Griffin, CEO of ADDaBIT, says: “We have worked tirelessly to build an easy to use platform, offering a seamless user experience from sign up, to creating a fund and inviting others to contribute, as well as adding beneficiaries. We are excited about our latest addition to the platform that makes the investor collaboration simpler. Funds can now be shared via social media, and contributors can add their bit to a beneficiary’s fund in a secure environment without belonging to the platform.”
The ADDaBIT application makes use of a tier 2 banking platform to ensure the security of each fund.
Despite initial beneficiaries being children with funds for big ticket items financed by friends and family, more and more customers have been using ADDaBIT to save for weddings and honeymoons, with groups of families and friends saving for stokvels or holidays.
“As a serial entrepreneur, I understand the need for products and services to evolve,” Griffin. “ADDaBIT was born out of the desire to reduce wasteful spending on piles of often unnecessary toys for children and to rather encourage contributions towards something more meaningful and start saving toward long term needs or goals. It’s overwhelming to see how our customers are embracing this new way to save.”