Boring Money, a UK-based startup that helps users make better financial choices by offering investment/pension guides, is now nearing 900,000 in funding through its equity crowdfunding campaign on Crowdcube. The company’s funding round made its debut earlier this month, originally seeking £300,000.
As previously reported, Boring Money states it blends quantitative data with tailored focus groups, interviews, and customer feedback to build a meaningful picture of what customers think about the world of finance.
“47% of the UK’s 16 million investors lack confidence. They want clearer communication. Help choosing. And to hear what other investors think. Since launching in 2015, we’ve combined simple facts, comparison tools and customer reviews to help people make better choices. In 2019 our traffic grew by 147%. We’re rated 4.8/5 on Trustpilot.”
Boring Money also noted that it uses insights to help the industry make better products & services with:
- bespoke research and advisory projects
- a suite of market reports
- subscription-based data products
Boring Money further explained its clients include BlackRock and Barclays, and disruptors such as Wealthify and Nutmeg.
“We don’t believe that you need to get off on economics or be able to calculate the square root of 1,156 in your head, to make some sensible decisions about your finances. Here’s a little secret which most people in finance won’t tell you. Once you get through the torrent of jargon and pie charts, sensible mainstream investing can actually be quite easy!”
Funds from the Crowdcube round will be used to continue the growth and development of the Boring Money platform. The company is now offering 8.31% in equity at a £8 million pre-money valuation.
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