Achieving dreams is a thing millenials talk about everyday – online and offline – but rarely bring into existence. This narrative is often used to mock millennials anytime they revolt against ‘brick and mortar’ systems. Dreams, a Stockholm-based fintech startup, is here to change that narrative.
With 9 million EUR in late seed round, Dreams – in collaboration with current investors including AXA Investment Managers (AXA IM), Finnish Ålandsbanken, the Norwegian insurance company Storebrand, and a body of private investors – is ready to help millennials attain their goals starting from Germany.
The Dreams Strategy: How it Works
Dreams is a private firm that presents its users a more productive way of saving. Its app lets you turn your dreams into savings goals, save the most convenient way, and invest your savings with a click. The app also allows you to choose group savings goals with the ‘achieve your dreams with a friend’ option.
The partnership between Dreams and AXA IM goes beyond investment rounds; Dreams takes care of the savings and behaviour of users while AXA IM serves as an asset manager, which provides optimal performance.
Burying your savings in the bank only exposes it to the downsides of inflation and no returns; however, Dreams offers you an opportunity to ‘put your savings to work’. With the help of AXA IM, your savings are in safe hands.
One thing that sets the Dreams app apart is the provision of safe hacks to users, enabling them to save in their favourite ways. Giving millennials an opportunity to save and invest doesn’t completely do the magic; helping them live comfortably without spending too much on a daily basis completes the puzzle.
Crunchbase estimated its overall investment funds to be 24.9 million EUR and describes Dreams as ‘a personal trainer mobile application that makes saving money easy, engaging, and social.’
Dreams was co-founded by Henrik Rosvall (also CEO) and Johan Hemminger in 2016. The FinTech startup aims to improve the financial well-being of millennials and push them towards their life goals.
What’s Next for Dreams?
As noted earlier, the Dreams team plans to extend their operations to Berlin. The private firm is bent on changing the ‘lazy’ narrative thrown at millennials every time they try to speak up, and Germany is just the starting point.
- Dreams plans to extend its financial activities to Berlin; a bold and sure move.
- Besides being an investor, AXA IM is partnering with Dreams as an asset manager for the savings invested by users.
- Crunchbase estimated Dreams’ overall investment funds to be 24.9 million EUR.