London-based language start-up Fluentify raises $410,000 angel investment
Fluency marketplace to use funding to “help users perfect English”
Language education tech start-up Fluentify has announced today that is has closed a $410,000 investment round primarily backed by angel investor Stefano Marsaglia, former chairman of Barclays global financial institutions and current co-head of Mediobanca investment bank.
Founded in 2013 by Italian entrepreneurs Giacomo Moiso, Andrea Passadori, Matteo Avalle and Claudio Bosco, Fluentify offers an online marketplace which allows language learners to pair up with native speakers to help them develop fluency in their target language.
Currently only available for those wishing to improve their spoken English skills, native speakers wishing to become language tutors, dubbed as ‘fluentifiers’, must first be vetted by the platform and can then set their own price, from $8 to $30, per 30-minute session.
The language company intends to use the finance to develop its video conferencing platform (picture above) and expand its current offering, with more languages in the pipeline.
Fluentify CEO, Giacomo Moiso, said: “We plan to use the funds for new hires and to focus on perfecting our proposition in southern Europe before scaling.
“Our overall aim is to help language learners around the world to perfect their ability in a safe environment where they can make mistakes.”