Financial management platform ilumoni has picked up $450,000 in a pre-seed round backed by Move Ventures and angel investors.
The angel investors included Simon Moran, former CMO and now non-executive director at Premium Credit and Andy Deller, former CEO of Dunbar Bank.
“There is a significant gap in the financial wellbeing app market,” said Deller. “Current providers offer limited information without direction, or push products that don’t account for the overall wellbeing of the user. ilumoni demystifies debt and provides borrowers with clear and actionable insights that specifically suit their circumstances, helping consumers understand and manage their debt for the better.”
ilumoni is a startup helping people to borrow better, save on unnecessary interest and time in paying off debts has raised. Founded in 2019, the venture leverages artificial intelligence to provide a better borrowing insights app.
“Many consumers borrow without fully understanding their options or implications of their borrowing,” said Gary Wigglesworth, co-founder and CEO at ilumoni. “This is further compounded with poor repayment habits. As a result, large numbers of consumers are in the dark about the true cost of their borrowing, paying more in interest and fees than necessary and carrying debt for longer. ilumoni is changing that by shining a light on how we borrow.”
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