Moneybox , a UK start - up that plans to launch a mobile app to help millennials save and invest , has raised $ 3 m seed funding . Similar to the popular US app Acorns , Moneybox will automatically round up transactions on users credit and debit cards to the nearest pound and invest the money in an ISA . The company plans to use the funding to expand the core team and for development , ahead of an “ early 2016 ” launch . Backing comes from , among others , Samos Investments , which previously invested in Betfair and Ocado . The company also announced that Daniel Godfrey , former CEO of The Investment Association ( IA ) , the representative body for the UK ’s £ 5.5tn investment banking sector , has joined as an advisor to the firm .
Moneybox, a UK start-up that plans to launch a mobile app to help millennials save and invest, has raised $3m seed funding. Similar to the popular US app Acorns, Moneybox will automatically round up transactions on users credit and debit cards to the nearest pound and invest the funds in an ISA. The company plans to use the funding to expand the core team and for development, ahead of an “early 2016” launch. Backing comes from, among others, Samos Investments, which previously invested in Betfair and Ocado. The company also announced that Daniel Godfrey, former CEO of The Investment Association (IA), the representative body for the UK’s £5.5tn investment management sector, has joined as an advisor to the firm.