Digital investment app Worthy has closed its seed financing round, to help with the full-scale launch of ITS mobile app.
The company provides everyone the opportunity to invest in a diverse portfolio which includes products previously only accessible by wealth investors. The company lets users invest into high-yield interest bonds, helping them enhance portfolio returns, mitigate risk, and generate both social and financial returns, according to the company.
As well as launching the app, the capital will be used to expand its user base and grow its investment product offerings.
Worthy CEO Sally Outlaw said, “We are witnessing a dramatic sea change in financial services. Hi-tech advisory solutions are displacing conventional intermediaries and we are in the early stages of experiencing a significant capital shift in asset classes.
“The once thriving retail brokerage industry is on the verge of being obsoleted by technology as a new generation of millennial investors increasingly look to robo-advisors, marketplace lending and equity crowdfunding platforms for investment alternatives. Worthy is one of those alternatives that provides an attractive yield while better aligning those returns with the investor’s values and lifestyle.”
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