Pensumo is a Spanish startup that is dedicated to converting “daily actions and purchases” into savings for the pension in a very simple way: through a mobile application.
The user provides proof of the receipts of their purchases and consumptions, and a percentage of their expenditure goes to micro-contributions, to a savings plan guaranteed by Allianz with an annual yield of 0.5% today. And all this free of charge.
The company, which combines the words “pension” and “consumption”, was created in 2010 by a worker in the Marketing Department of El Corte Inglés, José Luis Orós, who left his comfort zone and wanted to put his knowledge into practice by making a radical change in his career.
Orós took advantage of Ibercaja’s (Emplea-T) entrepreneurship programs to apply for the first 30,000 Euro loan in 2013 and set up the company together with Roberto L. Ferrer (legal partner), Jesús Sanz Carbó (ICT partner), Nacho Forastieri (partner and CMO) and Mary Carmen Bozal (Social Media).
That same year he received an investment of 60,000 Euro from Leading Solutions S.L., with which they used for their pilot in Borja, Zaragoza, with a population of 5,000 inhabitants, 10% of which registered on the app.
NEW PILLAR OF PENSIONS
Pensumo stands as a new pillar of pensions, in which the transactions made every day by the user consolidate small amounts for the future, which are stored in a long-term savings product guaranteed by the insurer.
In addition to the consumption in purchases, Pensumo has managed to materialize daily recycling, kilometers traveled (running), and reading. Everything that can be measured through the free app can be added to the pension.
The company’s proposals have received numerous awards, such as the IE Passion Award for Commercial Distribution of the Future in 2014; Social Entrepreneurs Award from the University of Madrid in 2014; One of the 10 best LATAM startups according to Mundilab in 2015; European Commission Seal of Excellence in Innovation in 2016; Seal of Innovative SME of the Ministry of Industry and Competitiveness in 2018; Aragon Award for Social Entrepreneurship in 2018; Best Spanish startup in the Digital Awards of “El Español” 2018; Best project of Collaborative Economy in the Contest “Lanzate” of Orange and the E.O.I.
The startup operates throughout Spain and, thanks to the European Commission’s innovation program H2020SME, which has financed its project with 714 thousand Euro, it is opening marketing channels in Portugal, Mexico and Brazil among other countries.
The ambitious business model is being observed by numerous corporations with which Pensumo has an agreement: Caser, Allianz, Willis Tower Watson, Orange, BSH, Zoilo Ríos or Ecoembes. In addition to the more than 200 companies or online stores that grant pension contributions when purchases are made.