Amsterdam students debut first investment via Dyme
Dyme, a student-run, Amsterdam-based fintech, has received the first investment by the Amsterdam Student Investment Fund (ASIF), a venture capital fund for student-founded enterprises.
The fintech was a participant in the ACE incubation programme at the city’s Science Park, and has developed an app that gives users an overview of their recurring expenses and enables them to switch or cancel subscriptions with one click.
Dyme co-founder Joran Idema says: “Because of the growing number of subscription services, complicated contracts and direct debits, more and more people are losing sight of their finances. As a result, many people end up spending too much money- and not even realising it!”
The money raised from ASIF will be used to make the app available throughout the Netherlands.
Details on the size of this investment weren’t disclosed.
By means of a bank link and algorithm, Dyme provides users with an overview of their subscriptions and enables them to switch to cheaper alternatives or cancel unwanted expenses
The fund is itself entirely student-run and manages €1 million. ASIF receives funding from both public and private sources – half of it is provided by the University of Amsterdam, while the other half is being raised from various private investors.
In addition to the investing activities of the fund, ASIF organises a range of events where students can learn about entrepreneurship and VC, meet start-ups and other potential employers.
