Fin-tech startup Exeq is signing up young New Yorkers in a bid to create a mind shift in millennials about personal finance.
Exeq helps users set weekly budgets and note where they shop with friends. By tying finance to social experiences they hope to empower people to have more real-world experiences with friends. Plans are afoot to allow users to see their friends’ spending feeds and their reactions to places they visit in New York City.
“It’s the finance app that our generation never had,” co-founder and head of marketing Isaac Kassin said. “For us here at Exeq, budgeting is just the beginning.”
Exeq has signed partnerships with more than 30 local merchants and hopes to facilitate deals that help save users money. They are working with Columbia, Fordham and NYU to involve students in visioning a world where their entire financial lives are stored their phones.
“Banks are fantastic at financial infrastructure…but they simply don’t have what we have — a finger on the pulse of the future and a direct connection to the actual generation of users who we’re creating products for,” CEO Derek Brown said. Mr. Brown, who previously worked at LinkedIN and Addepar, founded Exeq along with three people who dropped out of universities in the New York City area.