Company of the Week: Douugh

June 20 2019

Douugh are taking an AI first approach to reimagine banking, helping you better manage your money and achieve financial freedom. Creating an effortless and intuitive experience through a smart mobile banking app powered by a personal assistant for your finances.

With the proliferation of revolving consumer debt, people now more than ever need help and assistance. Fortunately, the technology now exists to make this possible.

Banks aren't proactively educating people about money management. A result of having to operate a legacy business model, which derives short-term profit by maintaining the status quo of keeping customers in a debt cycle.

Local neobank Douugh is set to be the first challenger bank to go public on the ASX, following a fresh injection of capital from Japanese financial services giant Monex Group.

Douugh will target a $10 million capital raise as part of the listing, which is slated to take place in mid-July and we think they are a great company of the week this week!