Gretel, a Fintech on a mission to reconnect the public with £50bn in “lost savings” and investments, has raised 69% (£454,219.58) of its £650,000 fundraising target (at the time of writing) from 113 investors via it crowdfunding campaign, carried out via Crowdcube.
Gretel reports a Pre-money valuation of £6,000,000; a £12.29 Share price; Equity 9.77%; EIS (Pending).
As noted in the update, Gretel aims to reconnect consumers with potentially billions in lost savings as well as investments. With £6m matched to members in a few short months, the firm says they are now “raising funds to fuel UK expansion and to develop new services which will support financial inclusion and wellbeing.”
Key highlights are as follows:
- £6bn worth of savings and investments already searchable on Gretel
- Clients include: Aviva, OneFamily, Foresters & M&G Prudential.
- Over 50k people already using Gretel
As mentioned in the update, finding lost savings is difficult.
Consumers are “faced with searching hundreds of companies, endless form filling, and can take time of 2-3 months for each firm.”
Financial wellbeing platform, Gretel, streamlines this process “for the consumer, bringing everything together in one place with a single search taking just 3 minutes – and it’s totally free to the public.”
As noted by the firm, millions of people in the UK “have lost and forgotten savings and investments, the problem is a vast and growing one.”
The pensions industry alone “has witnessed an increase in lost pots of 73% in the last 4 years and the Government forecasts this may escalate to over 50m by 2050.”
Gretel is reportedly “used by a number of well-known financial institutions and since launch, has amassed over £6bn in searchable assets with over £6m in matches.”
The media have also been recognizing the consumer benefit of Gretel’s service, covering the platform several times in 2022, the firm reveals.
Building on their momentum since launch, their latest funding round will aim to “accelerate UK growth and drive new platform features.”
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