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In Spring 2016 a group of freelancers has joint forces to build a bank account for the self-employed. Our vision is that it should be as easy working for yourself as being employed. In Germany there are ca. 2,45m self-employed people now. They clearly have different needs and struggle with different challenges than employees.
Key pain points include cash flow anxiousness, volatile spending habits, little to no savings, blurred lines between private & biz finances. Traditional banks have a hard time understanding freelancers, perceiving them as unattractive and risky. There are hardly any fitting banking products out there for the self-employed.
With Kontist we‘re developing a smart bank account & card with super powers for small businesses that gives context to your finances by automatically funneling funds to the right virtual sub-accounts. Features include automation of taxes/VAT, smart payment card, set up monthly salary and saving goals. Accessible through a simple mobile app!