Photo - Utego


To aggregate:bank accounts, offers, knowledge, power to earn

Market: Financial services, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 27.05.2020
Min investment
$  100.000
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Total required
$ 2.000.000
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Having an overview in a glance on your financial belongings, comparing and choosing the best product for your need and accessing the best conditions available in the market could be difficult, sometimes impossible and for sure time consuming. Utego does it all, in one mobile's app.

Current Status

The App is already in the app stores, with the following functionalities: Market Place and Financial Education.
The Financial Aggregator is ready - all tech and code was made under the Utego's supervision and it is Utego's property. We only are waiting for the necessary approval to operate by Bank of Italy. It should happen in August 2020. So this, we have already prepared our adv. campaign and we will launch it in Sept. 2020.
Utego has:
- more than 7,500 followers by website and social network channels
- around 150 users (app in beta version and not yet advertised)
- 2 contracts signed with a new bank and an insurtech, selling their products in its market place
- 22 prospect analyzing its proposal and interested in compare in its market place
- 7 strategic partnerships
- a strong governance and control organization (Board of Directors, Advisory Board, Accounting and Organization auditors and consultant, external body managing Internal Control, AML, Audit, Risk)


Referring Italian market the owners of more than one bank account are more than 11 millions. They are mostly 25-55 (age) and concentrating in the big cities (70% in the central-nord of the country). Utego will start to offer its app to the retail cluster; in a second step we will launch Utego business and in a third step we will enlarge our offering also to private and corporate targets. The same process could be followed in other countries.

Problem or Opportunity

The first market in which we will officially launch Utego's app is Italy.

Problem: Italy is a country extremely severe and complex in terms regulatory compliancy. In this scenario Utego was involved on the regulator tables for several months and so this we miss the opportunity to be the first mover launching a financial aggregator in our country.
We managed the problem strengthening our governance and organizational structure and completing the application for the authorization by the regulator. In the meanwhile others financial aggregators come up in the market. Let's see why this is for us an opportunity.

Opportunity: to be the first financial aggregator, 100% made in Italy and 100% independent by banks. The others financial aggregators present in Italy have been launched by banks of financial groups, no one fintech, independent by them (as Utego is) is yet present in the market. We believe this is a great opportunity. Imagine to give to one bank the view of all your financial belongings: wouldn't it be better to be the only one to have a complete dashboard of your financial assets, aggregating them in an aggregator completely independent by any financial institution?

Solution (product or service)

In the Utego's App, the user will find:
- the financial aggregator. It will be possibile to collect a dashboard of all his/her bank account and cards, in compliance with the PSD2 European Rule;
- a market place in which find, compare and acquire products not yet owned (e.g. a loan; a prepaid card for son/daughter; etc.). In the market place will gradually be present financial products as well as insurances, telco, pay tv, energetics ones;
- a financial education section

After few months since its official loan in the market, Utego will activate also its last functionality: the first financial auction tool.


Related to Utego's competitors, partially mentioned above in the "opportunities", please see the slide related to competitors, in the document attached.

Advantages or differentiators

Our advantages and differentiations by competitors are mainly concentrated in 2 pillars:
- the independency by all financial institutions

- the complete offering of Utego, not still present in Europe, that allow our users to aggregate their accounts, to compare and buy new products, to be informed about financial knowledge and about their expenditures, and even to get more by banks, in terms of better conditions, joining their negotiation power together, all in one APP.

For the auction tool we will probably get a patent


Utego will not gain by users: the app is free.

Its business model will gain revenues by all institutions (financials, insurances, telcos, energetics, etc..) in partnership, publishing products and services in its market place and participating in its auctions.
So Utego planned 3 revenues streams + 1:
1) fee by lead generation
2) fee by deal closed
3) fee by data analytics
4) and revenues by the provisioning of the aggregation's engine sold in white label.

For revenues and costs expectations in 5 years please see the slides attached.

Business model

For this box, please see the previous box and the slide attached

Money will be spent on

We are looking for 2 million euros:
- 80% to boost in 2021 our marketing and communication campaign
- 12% to develop new IT solutions
- 8% to carry on our operations

Offer for investor

At depend on deal's timing.
In Italy a Vc is interested in deep-dive a deal of 2 million €/20% equity, once Utego has gained almost 2 contracts signed and 5,000 users.

Nowadays we already signed 2 contracts and we will close other 4 before summer 2020 and we foreseen to gain around 30,000 users in period Sept.-Dec. 2020.

Team or Management

Won the competition and other awards

- 2018 Bocconi award to fintech
- 2019 award "CNA Cambiamenti Lombardia" as best fintech, by Confederazione Nazionale dell’Artigianato e della Piccola e Media Impresa
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Current Status
Problem or Opportunity
Solution (product or service)
Advantages or differentiators
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
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Lead investor
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Won the competition and other awards
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