Finance start-up Finimize secures £450,000 in seed funding
Company will use investment to build its team and for the development of its MyLife platform – set to launch in Beta in early 2017
Finimize, a London-based finance start-up targeting millennials, has clinched £450,000 in seed funding led by Passion Capital, with participation from financial adviser Jason Butler.
Founded in 2015 by Max Rofagha and Scott Tindle, Finimize is a free platform that helps millennials get their financial lives on track by making finance more accessible.
Set to launch in beta in early 2017, Finimize MyLife will provide users with a personalised financial plan using research and algorithms. The company’s daily newsletters of curated financial content have more than 60,000 subscribers.
Finimize will use the finance to grow its current team and for the development of the MyLife platform.
Rofagha said: “Finimize MyLife is finally bringing financial advice into the 21st century, and this funding will allow us to continue developing the platform and building our team.
“We are committed to simplifying the complex finance world by helping our generation understand the options open to them and take control of their financial lives.”
Eileen Burbidge, partner at Passion Capital commented: “Financial inclusion and literacy are massive issues for us as a society to solve – and which I'm confident the tech sector can help to address. Millennials in particular have the lowest levels of financial literacy across the United States and other regions around the world.
“We, at Passion Capital, are thrilled to be working with Rofagha, Tindle and the entire team at Finimize in order to improve financial literacy – and the company's traction shows how impactful this team will be.”