The digital banking app is launching in beta before a full market release later this year.
Financial ‘super app’ Douugh has made the leap across from the US to launch in beta in Australia.
The beta launch, which is expected to last for up to 90 days, follows the company getting its accreditation through embedded finance provider Railsr, which rebranded from Railsbank just a few weeks ago).
Describing itself as the app that “helps you budget, save and invest”, the company offers a “financial fitness membership” to help users manage and grow their money, it says.
“Hitting the market with a responsible financial super app that helps customers better budget, save and invest their money on autopilot has always been the dream and we think the timing is right [to launch in Australia] with rising inflation and the end of excess consumer spending,” Douugh founder and CEO Andy Taylor said.
“People are looking for greater assistance to live financially healthier - helping them to spend more mindfully, save more and build long-term wealth,” Taylor added.
The launch has been “a long time coming”, according to Taylor, and the mobile banking app will now offer its services to a small group of Australian customers.
After the first beta testing phase, the app will be opened up to users of the company’s micro-investment app Goodments and waitlist customers before a full market launch later this year.
“Douugh is seeking to help all Australians effortlessly and securely manage & grow their money without lifting a finger,” Taylor continued.
“Whether it’s help with budgeting for everyday spending and bills, automating saving, or investment options in US/AU stocks and crypto from as little as $1.”