KUALA LUMPUR, July 17 — Malaysian wealth management app Versa said more than 30,000 people now use its Auto Save feature, while savings placed through its platform have reached RM2.5 billion since its launch in 2021.

In a statement issued yesterday, Versa said the feature allows users to automatically channel part of their monthly income into investment products selected through the app.

“The real success story is that 30,000 of our users are now automating part of their salary for investment instead of relying on willpower alone — creating a buffer for their future selves from inflation and economic uncertainty,” Versa chief executive officer Teoh Wei Xiang said.

Versa said its partnership with AHAM Asset Management Berhad, which manages the underlying funds offered on the platform, has generated more than RM1 billion in assets under management.

The company also announced promotional fixed rates of 4.2 per cent per annum for fresh funds placed in Versa Save Conventional and 3.9 per cent for Versa Save Shariah for 210 days.

It said new users could receive a promotional rate of 10 per cent per annum nett on their first RM500 placed through Auto Save in Versa Save for three months, subject to terms and conditions.

Versa said its platform has more than 400,000 users, with a minimum investment amount of RM10 and no sales fees.

The homegrown financial technology company is regulated by the Securities Commission Malaysia and offers its investment products in partnership with AHAM Asset Management.