Franc, an investment app which makes investing simple, affordable and social for South African citizens and residents wants to democratize investing in South Africa by providing simple, easy accessibility to the money market and stock market via one’s mobile phone.
Launched publicly in September 2019, Franc has now become a loved and trusted local household name, growing 5x in registered users in the last year and a 24x in investors. The simple to use app with simple financial lingo to help users feel empowered and in control of their own financial future. They are perfect for starting out when you want to get your feet wet and learn the basics about investing.
Franc offers loads of training along the way through their weekly blog or their free Academy for those that want to take learning to the next level. They remove the guesswork out of who to invest with, giving you two of the best performing options to choose from; either Allan Gray Money Market Fund or Satrix 40 (the top 40 companies on the Johannesburg Stock Exchange), selected because of their reliability and performance.
A Mobile Investment App
With Franc there are no brokers, paperwork, complicated fine print. Everything is done through the mobile app in a few minutes. Franc charges a low, all-in fee of 1% per year of the value of your investment. So no other hidden or escalating costs or agent fees, making the process simpler and putting you in control of your own wealth. Customers love the ease of use, flexibility and feeling of control they have in their own wealth creation. They choose how much to invest, when they like, and can top-up their savings as often as they choose. With Franc, you no longer need to be rich to invest.
Road to Success
Since launching, Franc has won Best SA solution at MTN App Awards (2019), Voted best Financial App by Stuff Magazine (2020) and Best South African start-up at Seedstars (2018).
Their mobile investment app has made a big leap recently by migrating platforms to Flutter.dev – a powerful, Google-back, secure, cross platform development framework for mobile applications that focuses on performance and speed of innovation.
Working Towards Your Goals
A feature often asked for that they have just launched is the ability to edit goals. Interestingly, research shows that you are 42% more likely to achieve a goal if you write it down and Franc is your platform to do this, allowing you to create a goal and then save towards it.
Franc has found that most people are saving towards their emergency funds, a car, home, to build wealth or for a personal goal like a wedding or holiday – Mauritius being the number one holiday destination Franc users are currently saving for.
Franc are working on the ability to add multiple goals so stay tuned for this next app release coming soon.