What is unflat: the story behind the fintech changing savings in Europe

unflat is a savings app for the EU. Your savings earn every second. Here is why we built it, how it works and who is behind it.

A European problem

If you live in Europe, your savings probably sit in a bank. In August 2026, euro-area households earned on average 0.29% a year on overnight deposits and 2.18% on new fixed-term deposits, while new mortgages cost 3.60% (European Central Bank). Banks lend your money out at more than they pay you and keep the difference.

In 2023 we saw decentralized finance (DeFi) maturing fast: funds and banks were starting to use lending protocols with billions of dollars in deposits. But using them meant an external wallet, private keys, network fees and technical setup, and nobody had turned them into a savings app for Europe.

So the question was: how can a saver use the lending markets of DeFi without specialized technical knowledge?

Not a bank, not a crypto app

unflat gives savers access to what previously required advanced technical skills, in one savings app for the whole EU:

• You add money by card or bank transfer through MoonPay or Coinbase, or send USDC to your unflat wallet on the Base network.
• You choose what earns. The app has two balances, Cash and Savings. Savings are lent on Morpho, an overcollateralized lending market, through vaults run by third-party curators, today Steakhouse Financial and Gauntlet.
• The market sets the rate, not unflat. Savings earned about 5% a year so far in 2026, variable: the average annual percentage yield of unflat Savings (USDC) without cover, from 1 January to September 2026. Past rates do not predict future ones.
• You withdraw whenever you want. No lock-up.

There is no external wallet to configure, unflat charges no fees, and network fees on Base are currently paid by unflat through Pimlico. Third parties may charge fees: MoonPay and Coinbase for card and bank payments, and the lending vaults, whose fees are deducted before the rate is calculated. Savings are held in USDC, a dollar stablecoin, so their value in euros moves with the exchange rate.

unflat is a technology platform and is not a bank or a financial intermediary. Funds deposited through unflat are not covered by deposit guarantee schemes (FITD or equivalent) and are subject to risk, including loss of principal. Never deposit money you cannot afford to lose.

What runs underneath

Morpho is one of the largest DeFi lending markets (the largest is Aave), with more than $16 billion in deposits in October 2026. Every loan is overcollateralized: the borrower pledges collateral worth more than the loan, and it is sold if its value falls too far. As a saver, you don’t have to manage any of it.

Your wallet: you sign in with email, Apple or Google, and the app creates a wallet built on Privy. unflat never holds your money: it stays in a wallet only you control, and every transaction needs your signature. You can export your recovery key in Settings › Security; unflat can’t recover your wallet.

A public record: deposits, yield and cover are public on the Base blockchain, and Sherlock reviewed the app’s code in July 2026. See where your money sits and who can move it.

Who we are

unflat S.r.l. is a company based in Milan, Italy, founded by Alessandro Prandini (CEO) and Giacomo Dotto (COO). unflat was born from B4i (Bocconi for Innovation) and then went through the programme of TEF (Tech Europe Foundation), into which B4i has merged.

The vision

We believe the lending markets of DeFi shouldn’t remain a privilege for the technically skilled. With unflat, your money stays in a wallet only you control.

The technology already exists. unflat puts it in one savings app.