Cake App
The business, the turning points, and the decisions behind them.
Some sections are still being researched2 / 4
Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Cake was a Belgian fintech founded in 2018 in Hasselt by Davy Kestens. Its consumer banking app, launched in early 2020, aggregated users accounts across banks into one platform, gave automated insights into income and spending, and shared revenue through automatic cashbacks. After raising a 4.6 million euro seed round in January 2022, Cake shut its consumer app to focus on Cake for Business and Cake for Banks, white-labeled cashback platforms for retailers and banks.
02 / FAILURE REASONS
Material for this section is being gathered and checked. It will appear here once ready.
03 / EVENT HISTORY
Events in the structured record
- Company founded
Davy Kestens founds Cake in Hasselt, Belgium as a free banking app to help people understand and improve their finances.
- Peak funding round
Cake raises a 4.6 million euro seed round in January 2022 from Freshmen Fund, Sambrinvest, Seeder Fund and Truffle Capital, then shuts its consumer app in February to focus on business clients.
- Acquisition
Cake is acquired by Levenue in 2023.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
Material for this section is being gathered and checked. It will appear here once ready.