Wombat Invest receives investment from prolific FinTech investor

Wombat Invest, a startup helping millennials access investing opportunities, has received an investment from prolific FinTech angel investor Chris Adelsbach.

Adeslbach is joined in the round by P1 investment management CEO James Priday.

Earlier in the month, the FinTech launched a crowdfunding campaign on Seedrs with a £250,000 goal. The funds are being raised at a £.2,5m company valuation.

At the time of writing, Wombat has collected £254,424 in funding so far, from 272 independent investors.

Founded in 2017, Wombat Invest provides consumers with a free account from which they can invest up to £1,000 for free. The mobile app enables consumers to build a portfolio of funds which reflect their interests and beliefs, with the ability to either manually invest or automate the process.

There is also an option on the app to make automated savings by rounding up transactions and storing this extra capital on Wombat.

Chris Adelsbach said, “Young investors today care more than any previous generation about investing in companies that reflect their values. Wombat has spotted this trend with its theme-based funds.

“The care that has gone into the design and usability of the app – and the fact it’s free to use – makes it a compelling proposition.”

Adelsbach, who is the co-founder of Outrun Ventures and venture partner at Techstars, has previously invested into FinTechs including Atom Bank, Railsbank, Smart Pension and Monese.

Copyright © 2020 FinTech Global

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