Germany’s Liquid Labs hatches its first product: Expense-tracking tool Mavendi

Germany’s Liquid Labs hatches its first product: Expense-tracking tool Mavendi

When Paul Jozefak left German investment firm firm Neuhaus Partners to start ‘innovation laboratory’ (don’t call it a startup incubator or accelerator!) Liquid Labs, some were justifiably concerned about Europe potentially losing one of its top VCs.

But he’s still here, albeit in a slightly more entrepreneurial role, and together with Liquid Labs co-founder Michael Backes he’s putting the final touches on the public beta version of Mavendi, an expense management and spending tracking tool.

Designed to make tracking personal expenses as simple as humanly possible, without the need for the software to access your bank accounts and whatnot, Liquid Labs set out to build a platform that can aggregate receipts and order inputs from a variety of (online and offline) sources, and lets people gain insights about where and how they’re spending their money.

Core to the offering is the Mavendi ID, which Backes tells me “looks and smells like a regular email address, but filters and blocks all the stuff you don’t care about and delivers only what you want”.

He explains further:

Mavendi also learns to show things at a product level. It’s good to know that I spend €40 at the grocery store, but even better for me to know that €38 was frozen pizza and €2 on things that might be healthy.

And I see exactly how those iTunes rentals, apps, and music add up quickly. Or in my case I can see how much money is being spent on my wedding and decide how often I need to go donate blood to help pay for it. :-)

Backes warns me that the product is still in its early stages, but you can go try it out now to see if it’s a problem-solver for you. Basically, they’re launching Mavendi today mainly to get feedback from early adopters and continually improve the product henceforth.

Similar solutions include Lemon, Shoeboxed, Expensify and KEEBO.


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