Munich Startup: What does your startup do? What problem do you solve?
Pigtie: Pigtie empowers people to start investing and to take the finances into your own hands80 percent of 18- to 32-year-olds in Germany say investing is important. But only 20 percent of them actually invest. The current pension system also puts the younger generations in Germany at particular risk of old-age poverty. Through Pigtie, we are combating this problem by empowering more people to invest and making financial freedom accessible to everyone.
Munich Startup: But that's been around for a long time!
Pigtie: In the fintech sector, there are many startups operating in the personal finance sector. Most offer solutions that are purely designed for automation. However, users do not understand the background and, so to speak, conduct their financial planning "blindly." A few players in the market are focusing on financial educationHowever, users ultimately don't get to "do" the work and are ultimately left alone with the operational aspects of personal financial planning. Pigtie, on the other hand, pursues a holistic approach: We are both the entry point, the concrete savings tool, and the knowledge platform for personal financial planning. Pigtie is a helping hand in the vast financial jungle and supports users in every step of their personal financial planning!
“We lacked a simple and holistic solution for our personal finances”
Munich Startup: What is your founding story?
Pigtie: We started the project in 2019 and officially founded our company in October 2020. The motivation to build a holistic solution for personal financial planning was almost obvious: We realized that we all had excellent knowledge in various fields of study (physics, electrical engineering, and business administration) and were ready to change the world. However, we lacked a simple and holistic solution for our personal finances, which we couldn't find anywhere, even after extensive market research. So we decided to simply teach ourselves. Chris (Co-Founder & CTO) even completed the IHK (Chamber of Industry and Commerce) financial investment broker training. Combining our knowledge from our studies with our newly acquired financial knowledge, we created Pigtie.
Munich Startup: What have been your biggest challenges so far?
Pigtie: Our biggest challenge as a B2C fintech startup remains finding the right product-market fit. Only then can we empower as many people as possible to take control of their personal financial planning.
Munich Startup: How are things going?
Pigtie: Things couldn't be going better right now. Last year, we celebrated our official app launch. Since then, we've already seen four-digit download numbers. We're continuously developing the app together with our users, regularly releasing new app features, and improving existing processes. Every day, we work with Pigtie to motivate even more young people to embrace the important topic of financial planning! Our team also expanded from 2 to 5 employees last year and will continue to grow this year.
Pigtie has worked with many Munich accelerators
Munich Startup: How have you experienced Munich as a startup location so far?
Pigtie: The Munich startup ecosystem has been extremely helpful to us so far. In recent years, we have been able to work with various Accelerators We work closely with partners such as the LMU EC, Strascheg Center for Entrepreneurship, the Digital Product School, Xpreneurs, and many more. Thanks to all these programs, we have been able to make great progress on both the product and business sides.
Munich Startup: Risk or security?
Pigtie: As I said in the first question: We want to make financial freedom accessible to everyone. And for us, financial freedom means a good life in security and without any money worries. That's why we clearly choose security.
