Ikigai, a UK fintech company which combines digital banking with wealth management, has received pre-seed funding of GBP4.1 million through an oversubscribed crowdfunding campaign.
ikigai, a UK fintech company which combines digital banking with wealth management, has received pre-seed funding of GBP1.9 million through an oversubscribed crowdfunding campaign.
The fresh capital will be invested in team growth, and to accelerate the product pipeline. ikigai aims to further ‘financial self-care with confident spending, goals-based saving and investing,’ via its products called Everyday, Nest and Wealth, which also includes its new stocks and shares ISA.
“The success of the Crowdcube campaign has demonstrated an appetite to align premium financial services with the digital world, especially when it comes to combining everyday banking with wealth management,” says Maurizio Kaiser, co-founder of ikigai.
ikigai said that it intends to continue integrate banking design, best-in-class financial technologies, and high-touch relationship management, as well as continuing to iterate their product, by introducing new features, and it hopes to redefine the way young and affluent users bank, empowering them to spend, save, and invest in line with their personal and financial goals.
“The one-size-fits-all does not resonate for the growing number of young people who are seeking a financial partner where they feel valued and heard, comments Kaiser. “This demographic is demanding a certain level of experience from its bank; one that educates on the purpose of wealth management in a safe, technologically secure, and practical manner – without compromising on the high tech and high touch personalised service,” he adds.
The total amount raised equates to 14.82 percent equity at a pre-money valuation of GBP10.95 million, and the company has previously raised GBP2.2 million from private and angel investors in a pre-seed round completed in 2020.
ikigai was launched in March this year by Kaiser and his co-founder Edgar Picciotto. “This round of funding is encouraging as it validates the need for a fintech like us to provide a holistic view of money combined with purpose,” comments Picciotto.
