Engel und Völkers launches bank app

The real estate giant from Hamburg has launched an app under the name "E&V Smart Money". It is designed to combine clients' real estate management with offers for fixed-term deposits.

Engel und Völkers wants to enter the investment business, as has become clear in recent months. Now it is launching its first offering with the "E&V Smart Money" real estate finance app. The infrastructure comes from Solarisbank. The company is independent of Engel und Völkers, but is a license partner.

First of all, E&V Smart Money offers a normal Visa debit card; customers can withdraw money four times a month free of charge and also make cashless payments. The addition: anyone who buys or sells their real estate with Engel und Völkers can invest fixed-term deposits at an interest rate of 1.0 percent. The amount can be between 50,000 euros and 100,000 euros. In addition, the app offers a continuously updated assessment of one's own properties in cooperation with Engel und Völkers employees.

The move by the Hamburg real estate agent comes as no surprise: in collaboration with Finleap, Engel und Völkers had launched the Weisshaus platform, which was intended to broker exclusive real estate investments. Nothing new has been announced since the website was launched. Now Engel und Völkers is launching its own app, Smart Money, independently of Finleap. It was only in the summer that investor Permira acquired 60 percent of the shares in Engel und Völkers for 400 million US dollars.