Woveo Group Onboarding Guide
Welcome to the Woveo Community! At Woveo, we believe in the power of community-based finance. Our platform supports two types of financial groups:
Credit Groups - Traditional rotating savings and credit associations (ROSCAs), where members take turns receiving a lump-sum payout each cycle.
Savings Groups - Goal-based savings groups that help you build consistent savings habits with your community.
Why Join a Woveo Group?
Woveo groups are more than financial tools—they’re about:
Building financial confidence
Supporting community-led goals
Encouraging shared financial habits
Creating affordable access to credit
Fostering peer accountability and support
Let’s build secure communities and prosperous futures—together.
📬 Accepting Group Invitations
To join a group you’ve been invited to:
• From the Home screen, check the slider for your invited groups
• Or go to the specific community, scroll to Groups > Invited, and accept the invitation there
🚨 Remember: Once the group’s start date passes, you cannot join that group.
Each group type can be either open (public) or closed (private):
Open Group: Visible to all community members. Anyone can join. Visible to all members of the community. Anyone can join before the group’s start date.
Closed Group: Invitation-only. Members are individually invited. Invitation-only. Members must be specifically invited to join.
1. Credit Groups
Credit groups function as rotating savings and credit associations (ROSCAs). Members contribute a set amount on a fixed schedule. Each cycle, one member receives the entire pooled contribution.
Key Features:
Group creator is the group admin.
Admin sets:
Group name
Contribution amount per cycle
Frequency (weekly, bi-weekly, or monthly)
Group visibility (open or closed)
Step-by-Step for Credit Groups:
1. Go to Create Group > Credit Group
2. Enter:
• Group name (purpose or goal)
• Contribution amount (per cycle)
• Frequency: weekly, bi-weekly, or monthly
• Visibility: open or closed
3. Invite members who have completed:
• KYC verification (Know Your Customer)
• Linked their Canadian bank account to their Woveo Wallet
4. Review group members and set payout order using drag-and-drop
5. Click Publish to go live
🔔 Until you publish, no invitations will be sent and the group won’t start.
Group members are placed in a receiving order, with the first member receiving the first payout.
Premium Benefit:
Basic users can join 1 group.
Premium users can join multiple groups, boosting credit access and savings.
Savings Tip: Members can save $400–$500 CAD in interest compared to traditional lending methods.
My clicking on the Members and Schedule Tab, Members can drag and drop to reorder the payout schedule after publishing.
Anyone in the community (not just admins) can create a group.
Creation Steps:
Select "Create Group" > Credit Group.
Set group name, contribution amount, frequency, and open/closed status.
Invite verified members (completed KYC + linked Canadian bank account).
Review group details and member schedule.
Click "Publish" – this activates the group and sends out invitations.
⚠️ Important: Members must be fully onboarded to be invited to or join a group.
2. Savings Groups
Savings groups are designed to promote financial discipline and habitual saving within a community. Members contribute regularly toward a savings goal.
Key Features:
Group creator/admin sets:
Group name (savings goal or purpose)
Contribution amount
Frequency (bi-weekly or monthly)
Duration (how long the group will run)
Start date
Group visibility (open or closed)
Step-by-Step for Savings Groups:
1. Go to Create Group > Savings Group
2. Enter:
• Group name (goal-based: e.g., “Holiday Trip”)
• Contribution amount
• Frequency: bi-weekly or monthly
• Duration (e.g., 6 months)
• Start date
• Visibility: open or closed
3. Invite verified and bank-linked members
4. Review group settings
5. Set start date and duration
6. Click Publish to activate
Creation Steps:
Select "Create Group" > Savings Group.
Set group name, contribution, frequency, duration, and open/closed status.
Invite verified members.
Review group details and members.
Click "Publish" – set the official start date and savings duration.
💡 Example: A group that saves $100/month for 6 months starting April 30 will deduct $100 every 30th until October.
Group Flexibility Feature:
Before the start date, you can postpone group activation by up to 3 days to ensure maximum participation.
Form the group details page on the group you created. The following banner will appear letting you know that the group is due to start soon
By clicking on this banner the option to extend the group by 3 days will be shown as below: