Advanced Bitcoin Technologies AG takes over Savedroid

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Dhe Frankfurt start-up Savedroid has a new owner: the listed company Advanced Bitcoin Technologies AG (ABT) announced that it had taken over the fintech. The owners of ABT had already decided that on September 27th. ABT AG was only founded on 4 July with a share capital of 250,000 euros and has been listed on the stock exchange since 2 August. ABT board members Yassin Hankir (chair), Tobias Zander (technology) and Joachim Brockmann (operations) are also co-owners and board members of Savedroid. Hankir told F.A.Z. On the one hand, this step is intended to open up access to the financial market and, on the other hand, to boost investor confidence in the start-up, because it must fulfill stricter transparency requirements on the stock exchange.

Falk Heunemann

In 2015, Savedroid was set up with the plan to develop a passbook app that will automatically set small amounts of user accounts aside. Later, the founders pursued the goal to develop a so-called wallet app for cryptocurrencies. Now, the company relies on an app that can be used to define saving rules. In addition to the founders, the Strukturbank Rheinland-Pfalz and several business angels are involved in the company. According to ABT's ad hoc announcement, the Savedroid owners have fully exchanged their Savedroid shares for all ABT shares, valuing ABT at EUR 40 million.

By 2018, Savedroid had caused quite a stir when founder Hankir pretended for a day that he had gone abroad with the money of thousands of retail investors. Fintech had allegedly collected 40 million euros through a so-called initial coin offering of crypto share certificates based on blockchain technology. One day after his supposed disappearance, Hankir reappeared, stating that it was just a PR stunt aimed at alerting him to security issues with crypto securities.

(tagToTranslate) Yassin Hankir (t) Tobias Zander (t) Joachim Brockmann (t) Technologies (t) F.A.Z. (t) Stock Exchange (t) IPO

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