Engel und Völkers launches banking app

The Hamburg-based brokerage giant has launched an app called "E&V Smart Money". It is intended to link customers' property management with offers for fixed-term deposits.

Engel und Völkers wants to get into the investment business, this has become clear over the past few months. Now, the real estate finance app "E&V Smart Money" is launching its first offer. The infrastructure comes from Solarisbank. For this, 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, four times a month customers can withdraw money for free, and also make cashless payments. The addition: Those who buy or sell their properties 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-based real estate agent comes as no surprise: In cooperation with Finleap, Engel und Völkers had launched the Weisshaus platform, which was intended to broker exclusive real estate investments. Since the launch of the website, nothing new has been announced. Now Engel und Völkers is launching its own app, Smart Money, independently of Finleap. Only in the summer, the investor Permira had acquired 60 percent of the shares in Engel und Völkers for 400 million US dollars.