Tech Pitch: evestor
Helping everyone make their money go further, this online finance and investment adviser makes the tough decisions so its customers don't have to
Company name: evestor
Founders: Anthony Morrow (42) and Duncan Cameron (45)
Background: evestor is backed by Anthony Morrow, founding shareholder of financial advisory group Paradigm, and Duncan Cameron, co-founder of MoneySuperMarket.com
Based in: Wilmslow, Cheshire
Launched: April 2017
What does your tech start-up do?
evestor is an online personal finance and investment adviser designed to help people of all ages, experience and wealth take control of their financial affairs.
Our customers may be new to investing, or they may have become disillusioned with the high costs of financial advice. Whatever the reason, our service helps customers make their hard-earned money go further.
Although the service can be used 100% online, our customers can also speak to our financial advisers for reassurance on what they are doing. Decisions around finances can be difficult, and we want to make sure people are as comfortable as they can be when making them.
Unlike other so-called “robo-advisers”, we actually will tell you what the best course of action is rather than letting you make the tough decisions, often on subjects that you are not an expert in.
Is evestor funded?
evestor is privately funded by myself and Duncan, which allows us to develop and grow the business at our own pace. Both of us have built and sold similar businesses and are aware of just how difficult it can be, and the realistic time frames that it takes to achieve success.
Although there are benefits to having venture capital in place, it’s an increasingly competitive space with plenty of commercial and regulatory pressures. Facing these without the additional pressure of return-hungry shareholders and board members is, in our opinion, a good place to be for now.
What were you doing before you started evestor?
In 2006, I co-founded Tatton Asset Management plc (which floated on AIM in July 2017 for £95m). This provided a range of services to financial advisers in the UK, including fund management. I left the business in September 2015 to concentrate on evestor, which is where I saw the market moving towards and where the next 10-year opportunity existed.
Duncan co-founded Moneysupermarket.com in 1993 and it became the first financial aggregator in the UK. It transformed how people bought insurances, mortgages and other financial products. Duncan left the business as a founding shareholder in 2007, when the business floated for £845m.
What’s the best thing about being based in Wilmslow?
Manchester is a more relaxed, but still dynamic, alternative to London. There is a perception that to be successful in the fintech space you have to be based in London, but I disagree, especially with all the communication tools available in today’s society.
Manchester University has a world-renowned computer science faculty and while clearly there is plenty of competition for talent, lots of graduates now aren’t dazzled by the opportunities on offer in London. Instead, they see how Manchester offers a better standard of living without compromising on career opportunities.
Manchester is quickly becoming a thriving hub of start-ups and innovation and we are certainly committed to doing our share in building a truly regional-based successful business.
Take a look at our free guide to learn more about starting a business in Manchester.