Smarterly, a UK-based platform that is seeing to help users save and invest directly from payroll, has successfully secured its initial £600,000 Seedrs equity crowdfunding target and is now nearing £700,000 from more than 250 investors. Founded in 2014, Smarterly stated it aims to turn the UK into a nation of investors, by promoting the benefits of healthy savings habits via people’s employers.
“We make investing simple, easy and accessible for the mass market – aiming to make buying a Smarterly ISA just as easy as buying a product from Amazon. Employers promote Smarterly as an employee benefit, to help their staff build healthy saving habits with the convenience of saving directly from their pay, often with a contribution boost from the employer as a more accessible complement to pensions.”
Smarterly also reported that it uses algorithms to analyze more than 1,000 funds, build ready-made portfolios and comparison tables and then monitor each customer’s individual portfolio on a daily basis.
“Our goal is to be the ‘go to place’ for workplace savings and to have 250,000 customers on our platform in 5 years. First we aim to perform a land-grab and sign up corporate clients, then we intend to focus on improving take up rates and encouraging customers to transfer existing investments.”
Funds from the Seedrs round will be used to accelerate sales and marketing activities to take advantage of our early mover position in the workplace and to further invest in our product proposition. The campaign is set to close later this fall.
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