Stories: PENSUMO or how to save running, recycling or reading
Save spending. European Innovation Council pilot's funded company PENSUMO was one of the first to give shape to this seemingly simple idea.The company is dedicated to converting daily actions and purchases into savings in a very simple way: through a mobile app.
PENSUMO was founded as a result of the combination of the board's previous experience of 20 years in the field of retail loyalty plans and its social commitment to the sustainability of pension savings. On one hand, public and private retirement funds are under an increasing pressure due to factors such as the difficult economic situation or the ageing demographics. On the other hand, the retail industry is in need of more attractive, efficient and affordable consumer loyalty solutions to attract customers. PENSUMO aims to provide a solution to both problems, by offering a significantly improved and socially conscious consumer loyalty mechanism that will be beneficial for all retailers, the general consumer and society as a whole.
By purchasing products in any of the stores part of the PENSUMO program, the consumer will automatically receive a fraction of the purchase amount back on a savings account, through one of their insurance partners. Each purchase will automatically add successive micro-contributions to this account.
The company has also social responsibility in mind. In fact, PENSUMO users will also be able to increase their funds by participating in civic campaigns, covering activities such as recycling, sports or road safety initiatives.
The idea, which has achieved, among other recognitions, a Phase 1 and a Phase 2 grant from the EIC pilot SME Instrument of 2.450.327€, is also allied with both physical and online businesses, such as Amazon, MediaMarkt, Fnac, Puma, AliExpress, Disney.
View PENSUMO's information on the EIC SME Instrument data hub.