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cashpresso starts – get an overdraft in only 10 minutes

Viennese fintech cashpresso offers an independent overdraft – of up to € 1,500 – via smartphone

  • Sign-up entirely online, done in 10 minutes
  • Loan without earmark and immediately ready to spend
  • VC Fonds Speedinvest, Hansi Hansmann, Runtastic founders and Stefan Kalteis among investors

Banking is becoming increasingly mobile. The three founders of the Viennese fintech startup Credi2, Daniel Strieder, Michael Handler, and Jörg Skornschek, are counting on this trend. With their product cashpresso, the young company is launching an overdraft which is not linked to a conventional banking account. “In just 10 minutes, the cashpresso account can be opened entirely online and up to 1,500 € are ready to be spend. Customers decide for themselves when and what they use the money for,” says Daniel Strieder, CEO. As of now, cashpresso is available to German and Austrian citizens.

Well-known partners on board

With their idea, the founders were able to win over respected partners. Their bank partner with a German banking license is Deutsche Handelsbank, a pioneer bank in the field of e-commerce. The launch of cashpresso was made possible by seed funding of € 700,000 from VC funds Speedinvest, Hansi Hansmann, the Runtastic founders, and Stefan Kalteis. “cashpresso impresses with its strong team which gathers experienced experts from the fields of online payment, e-commerce and analytics. The product offers quick access to an overdraft, available online under fair conditions, and complements our excellent fintech portfolio perfectly,” says Speedinvest partner Stefan Klestil.

Paperless sign-up in only 10 minutes

The cashpresso account can be opened using the smartphone app for Apple and Android or accessing the website. During sign-up, customers must enter their name, date of birth, address, nationality, phone number, email address, and banking information. Thanks to an identification process via video call, there is no need to visit any branch office in person.  The loan agreement will be signed online using qualified electronic signature. “cashpresso shows that borrowing money can be done quickly and easily,” says Strieder.

Practical alternative to installment loans

The available amount can be used repeatedly. This means customers do not have to reapply for every new purchase. One of the most outstanding features of cashpresso is its flexibility regarding repayment.  A minimum payment every month of 3% of the amount borrowed guarantees the reduction of debt and allows low rates. Customers set the date and the amount of their monthly payment beyond the minimum. Changes to these settings are possible at any time and free of charge. Additional payments and the repayment of the full amount are always possible without any extra cost.

Fair costs, transparent communication

cashpresso does not charge any maintenance fees or hidden costs. The EAPR of 9.99% is only incurred upon money borrowed.  The first 30 days are completely interest-free. This allows for 0% interest financing during short-time financial straits and offers the opportunity to try cashpresso free of charge. The contract can be terminated with just one click. “With cashpresso, we put a fair and transparent product on the market. Getting a loan is time consuming and complicated – this is exactly the old image we want to get out of people’s minds,” describes CEO Daniel Strieder his vision.

About cashpresso

cashpresso is a trademark of the Viennese fintech startup Credi2 and offers overdrafts of the bank Deutsche Handelsbank which are not linked to a conventional banking account. The entire process is handled online and enables the customer to access a € 1,500 line of credit loan within 10 minutes. Credi2 was founded in 2015 by Daniel Strieder, Michael Handler and Jörg Skornschek. In spring 2016, Credi2 was able to get renowned investors on board, such as VC Fonds Speedinvest, Hansi Hansmann, the Runtastic founders and Stefan Kalteis. AS of now, cashpresso is available to German and Austrian citizens.

Facts about cashpresso:

Branch: Fintech, credit intermediary, technical service provider
Countries: Germany, Austria
Investors: Hansi Hansmann, Runtastic founders, VC Fonds Speedinvest, Stefan Kalteis
Company: Credi2 GmbH
Address: Schottenfeldgasse 85/2, 1070 Vienna, Austria
Media contact: Theresa Brandstetter,, +43 664 25 65 066


About Deutsche Handelsbank

Deutsche Handelsbank AG offers classic payment transactions, factoring solutions and flexible “working capital financing”, especially to e-commerce companies (B2C / B2B), to marketplaces as well as to companies that provide services or software “as a service” (SaaS, B2B / B2C). With its specialized products and services, Deutsche Handelsbank accompanies and supports the growth of its customers and constitutes an experienced bank partner in the fintech field.

Facts about Deutsche Handelsbank:

Branch: Bank, working capital / outside capital, payment transactions, fintech, factoring, etc.
Company: Deutsche Handelsbank AG
Address: Elsenheimerstraße 41, D-80687 Munich, Germany
Media contact: Nicole Tomaske,, + 49 89 244157-113