ikigai, a banking and Wealthtech company, has successfully secured nearly 1.7 through its equity crowdfunding campaign on Crowdcube. The funding round, which originally sought to raise £1.2 million has attracted more than 1260 Crowdcube investors so far.
As previously reported, ikigai is on a mission to be the 1st UK Fintech to combine banking & wealth management in one app, targeting the young affluent in need of money management services. Launched at the beginning of 2021, the company reports a 20% week-on-week growth in new customers. It has also partnered with various providers, including WealthKernel and Railsbank. Ikigai’s portfolios are managed using asset allocation guidance from BlackRock
“ikigai reimagines the way young affluents spend, save and invest, approaching personal finance from a personal place – an approach to money that we believe escapes incumbents and challengers alike. Young affluents are entering their prime earning & spending years, but 56% of high-net-worth millennials are dissatisfied with the wealth management tools on offer. They have expectations that aren’t being met. That’s why we’re on a mission to help this under-serviced but increasingly powerful audience – building a financial platform for the future of wealth.”
The company further revealed it is seeking funds to “supercharge” its growth, by accelerating its tech team and product roadmap.
“ikigai combines banking and wealth management in one app, enabling holistic money management. We charge a flat fee that’s fair & simple, getting rid of outdated % fees.”
ikigail’s Crowdcube campaign is set to close next week. The company is raising capital at a pre-money valuation of £10.95 million and has previously raised pre-seed funding of £2 million.