Note from the CEO: As we have said before, FintekNews concentrates on the U.S. fintech industry but every so often we see something that is so intriguing we have to report. A UK based new (aren’t they all) “unique” robo-advisor taps crowdfunding to raise additional capital and improve sales channels. Sure to be replicated here in the U.S. with additional services (think advertising/marketing) all tied into one package. Cool!
“Robo-investing remains one of the hottest trends in the Fintech industry right now. Wealthify, one of the many projects trying to offer such a service, is looking at crowdfunding to raise capital. This is quite an interesting approach, as it also highlights the potential of democratizing investing throughout the United Kingdom. The public crowdfunding campaign is scheduled to go live on September 12, 2016.
It is rather novel to see a robo-investing project look at crowdfunding to raise additional capital. Wealthify hopes to raise an additional 1 million Pound Sterling through these efforts. The platform of choice will be Seedrs, which is also the most popular crowdfunding platform in the UK today.
Assuming this crowdfunding campaign will be successful, the team will use the money to improve customer acquisition. Moreover, creating national brand awareness is a top priority as well. Furthermore, the robo-advising project will look at the introduction of new sales channels, as well as extend its services to include pensions.