New banking app Chippit launches in beta in Australia

Chippit, a new digital banking app, has launched in Australia in a closed beta, access for which is currently waitlisted.

Founded in May this year, Chippit calls itself a “social banking app” that allows individuals to invite and save faster with their friends and family, as well as borrow at 0% interest rate to make purchases.

Based in Melbourne, Chippit recently raised $136,000 (AU$190,000) in pre-seed funding from venture capital firm Antler.

“We are building a solution to help debt conscious individuals, temporary residents and students with work rights in Australia achieve their money goals faster and borrow interest free by saving with peers,” Chippit says.

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Source: New banking app Chippit launches in beta in Australia – FinTech Futures