Envel's ranking has dropped significantly in app store. Marketing needs to do something about it asap

As an investor I would like to see Envel to put more effort into marketing. Fixing bugs and rolling out new features are important but marketing is just as important. Neobanking is taking off and right now is important to get Envel onto people’s phone as many as possible. We have dropped from ranking in 600 in early Feb to now 1300 in the category finance while our competitor Douugh and OneFinance has kept their position steady above 500. Does the marketing team have any explanation for the huge drop? if not, then we need to understand why.

Hi Amanda! Thank you so much for your feedback, we value all input from our investors and Envel Community! We ensure you that we are working hard on marketing efforts to spread brand awareness and get as many downloads as possible. Our app store rating has increased over the last weeks in addition to reviews. With our new update 1.9 paired with our paid strategy we feel confident this is a brief dip and rankings will increas over the coming weeks. Have a wonderful day!

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Overall I’m finding Envel’s marketing messages to be very misleading and omitting very important things — like the fact that there’s no mobile check deposit and that shared envelopes with “anyone” doesn’t include non-Envel members. All this bait and switch is making me regret opening accounts with Envel and I’m already turning to other neobanks instead.

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Hey there,

So sorry to hear you feel this way, our goal is to be very transparent and honest with our Envel Community to make sure you have all information at your finger tips and to gain your trust. All of our app features, like Shared Envelopes, are for users only to protect the identity and security of our Envel users which is our main priority. Good news, we are working on implementing a mobile check deposit feature in addition to other key updates our users have asked for. If you have other concerns we would love to discuss, just shoot us a note at support@envel.ai. We hope you stay with the app and will work to keep our communication clear and community updated.

We are also currently working on changing all the wording on our website. Thank you for the note, and stay posted for updates. Hopefully this will help clear things up for our users!