Thousands downloaded Sugar Wallet's set-and-forget paycheck investing app

Thousands of New Zealanders downloaded Sugar Wallet, reported as the country's first set-and-forget paycheck investing app. Users start from one dollar and set weekly, fortnightly or monthly contributions, and the app grew with no marketing spend.

We backed Sugar Wallet because everyday savers want somewhere better than a low-interest bank account, and the friction of starting is what stops most of them. Setting a contribution once and letting it run is the design decision that made the app spread without a marketing budget. Dev Soni built it after finding his mother's default KiwiSaver fund was earning barely 1 percent a year, and it has since moved into automated 24 karat gold savings stored in Brinks vaults.

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