Oval Money Says Total Funding Tops £1.3 Million with Most Coming from Crowdfunding Campaign

 

Fintech Oval Money, a Robo-advisor founded by Benedetta Arese Lucini former CEO of Uber Italy, reports it has raised a total of £1.3 million in funding. Earlier this year, Oval listed on Crowdcube where it raised £632,000, according to the campaign page. Oval reports this number hit £800,000. Oval adds that the first half million was raised in just 72 hours. Many of these investors were said to be users of the App.

The funding was boosted by investments from Fabio Cannavale, CEO of Lastminute.com and Mauro Del Rio, founder of Buongiorno, which is part of the DOCOMO Digital Group.

Oval says it plans to use the funds to help launch a feature within the platform that will allow people to invest their money in a multi-sided marketplace for savings and investments products.

“Once again, we’re overwhelmed by the support Oval Money has received,” commented Lucini. “Not only because it illustrates true value in our product, but because it has allowed us to focus on the next chapter in the platform’s development, allowing us truly to democratise saving and investment, and help tackle the poor savings culture that has become endemic within Europe and the UK.”

Oval Money was founded in 2016 Lucini, along with Claudio Bedino and Edoardo Benedetto, co-founders of do-it-yourself crowdfunding platform Starteed.com, and Simone Marzola, longtime expert in machine learning and artificial intelligence with previous startups and now Oval’s CTO.


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