All-in-one personal finance app developer Exeq has picked up $1.5m in seed money to back its launch early next year.
New York City angel investors led the financing round for Exeq, which will target millenials through its budgeting tool, automated goal-based savings accounts, robo investment portfolios and tailored financial alerts.
Exeq expects its app to be available on iPhone and Android next year, and the company is already collecting early-access signups.
Exeq CEO Daniel Schwartz said, “Affordable quality banking services are only available for the wealthy right now.
“Unfortunately, banking and personal finance, super important elements in our lives, are the least integrated and personalized when it comes to their technology and availability.
“You need a one app for budgeting and another for investing. And even those aren’t so comprehensive”
“Exeq’s goal is to lead people to achieve their financial goals. You want to go on a vacation in six months. How do you properly budget for it?
“How much should you be saving a month for retirement? Should you spend less on food or transportation? How do you start investing in the stock market? Should you invest in stocks or bonds?
“These are very important questions that most people don’t know the answers to, including myself. And banks don’t provide these answers. Especially not to the everyday individual.”
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