250,000 registered customers: Germany’s next bank is insolvent

250,000 registered customers: Germany's next bank is insolvent

Ruuky’s business model was intended to appeal especially to “Generation Z”, i.e. people born after 1997. The so-called “Social Interactive Banking” was created for this purpose. By the end of 2022, Ruuky had 250,000 signups on his app.

The fintech project was to support customers, aged 16 on average, in their professional life. According to founder Jes Hennig, a buyer for Ruuky should be found in the coming weeks. “Our growing customer base and our relevance to Gen Z channels show that there is a need for a modern, safe and educational approach to banking for young people. However, we must accept that market realities for startups to capital-intensive have changed.”

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