Smarterly, a robo-investing platform, has launched its second crowdfunding campaign with a goal of £2m.
The company plans to use the funds to support its growth strategy, with a focus on boosting its sales and marketing capabilities over the next 12 to 18 months.
This crowdfunding campaign is being conducted through the Seedrs platform and is raised at a pre-money valuation of £16.7m. Smarterly previously raised £1.6m in a crowdfund last year.
Based in the UK, Smarterly is an online savings and investments platform provider, offering workplace ISAs facilitating payment through payroll deduction. Its clients include Aon, Morgan Stanley, Rolls Royce Engineering, and Samsung.
Companies use the platform as an addition to workplace savings and enhance their employees’ financial wellbeing. The platform offers ISA, lifetime ISA, junior ISA, and general investments,
Smarterly co-founder and executive chairman Phil Hollingdale said, “We’re crowdfunding again to support the business through its next stage of growth and to build on our recent success. Our campaign last year attracted over 80 investors from within our industry and another 500 via the public. Since then we’ve secured many more corporate clients who promote our workplace savings platform to their employees.
“It appeals to all demographics. Millennials are attracted by the Lifetime ISA and its 25% Government funded bonus, whilst high earners in the private sector direct employer funded pension contributions into ISAs due to tightening restrictions with annual and lifetime allowances on pensions.”
Earlier in the year, fellow UK-based digital wealth management firm Nutmeg collected £4.1m during its own crowdfund. The funds were raised at a valuation of £251m.
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