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DivvyDiary: Five-digit sales with a financial calendar

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DivvyDiary: Five-digit sales with a financial calendar

Building passive income with dividends is a trend among young investors. The financial calendar of two founders helps them with this.

Dividend strategists: The Divvydiary founders Johannes Kronmüller and Max Große. DivvyDiary

There is a small but tight-knit community of money growers on X (formerly Twitter). She calls herself #Fintwit and talks shop about finances. One group in particular stands out in the German-language discussions under the hashtag: the supporters of the dividend strategy. They specifically look for stocks from companies that pay out the highest possible dividends (i.e. parts of their profits) to investors. The goal is usually to be able to live on the regular income in the long term.

To achieve this, investors motivate each other, for example by posting screenshots of their portfolios on Twitter. “This month I can expect a total of 7 paydays and a total of around 107 euros gross dividends,” it says thenoften referring to a financial tool that illustrates income using charts and tables – we’re talking about Divvydiary.

Dividend calendar inspires thousands of investors

Johannes Kronmüller and Max Große are behind the tool. The two entrepreneurs from Stuttgart and Berlin founded Divvydiary in 2019, initially as a hobby project alongside their permanent position at Mercedes-Benz Bank, as Kronmüller tells us in an interview with Gründerszene. “I can now take care of the project full-time and in September we achieved a monthly turnover of 40,000 euros for the first time.” According to Divvydiary, 60,000 investors are already using it. Over 5,500 of them pay money: the premium version of the financial tool costs 5.99 euros per month.

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The core feature of Divvydiary is simple: it is a calendar that informs users when the next dividend will arrive in their checking account. Because not all companies pay a dividend, and certainly not at the same time. While Deutsche Post AG, for example, pays out dividends to investors (1.80 euros per share), the gas company Linde does it quarterly (1.10 euros per share). If, like many dividend strategists, you have ten or more shares in your portfolio, the payment dates increase.

“The overview is quickly lost,” explains Johannes Kronmüller: “Especially if you as an investor want to build up a regular cash flow in order to cover part of your living expenses.” Divvydiary shows upcoming payment dates chronologically, but also enables deeper analyses. For example, how the dividend yield compares to other investors’ portfolios. The program can also be used to create new ones Find stocks with high dividend yields.

Programming effort underestimated

But why do you need a special financial tool for this? Wouldn’t it be easy for custodian banks to offer a dividend calendar themselves? If you believe Divvydiary founder Kronmüller, things are complicated. “When we started in 2019, we underestimated the effort,” he says.

It was a challenge to even get reliable data on dividend payments; there was no such thing as a central provider. “Ultimately, we built a database ourselves and used techniques such as machine learning,” explains Kronmüller. For the founder, there is a simple reason why banks have not yet offered their customers a dividend calendar: “The banks have been lagging behind with innovations for years, and we as a fintech are still benefiting from this to this day. Of course, that can change quickly at some point.”

Help from financial influencers

It was also a happy coincidence that Divvydiary was able to grow quickly from the start. When Johannes Kronmüller and Max Große launched their financial tool in April 2020, a particularly large number of people were interested in stocks – and therefore also in dividends – due to the Corona lockdowns. Within a few months, Divvydiary grew to 10,000 registered users. Looking back, perfect timing.

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On top of that, Kronmüller and Große benefited from unpaid advertising. Financial YouTubers like “Homo Oeconomicus” (almost 90,000 followers) use Divvydiary to document their progress in building a side business through dividends. Lisa Osada, who provides information about investments under the pseudonym “Aktengram” (82,000 followers), also uses the tool for her portfolio.

The Divvydiary founders have now professionalized their project. In addition to a special affiliate program for influencers, the fintech also offers its data to other companies via a software interface, such as the financial service provider TTMzero or the fintech Finary.

“Don’t rule out venture capital”

Johannes Kronmüller and Max Große have so far financed their own fintech exclusively from their own resources. There are no investors yet. “In the long term, we are not ruling out venture capital,” emphasizes Kronmüller. There are always inquiries from business angels, for example.

“That would enable us to grow even more and build features for which we currently have no resources,” says Kronmüller. As long as this is not possible, both want to gradually increase their time to full-time. Kronmüller terminated his permanent position last year, and additional developers are expected to be hired soon. “The prerequisite is that we can continue to increase our sales continuously.” The goal by the end of the year: 40,000 euros in recurring sales per month.

This text first appeared in February 2022.

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