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 . ’s aligned with. 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 $ 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 .