Yet-to-launch Moneybox is a U.K. startup that wants to encourage millennials who might not be thinking too much about their financial futures to save and invest. 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 Daniel Godfrey , Betfair 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, Moneybox , which previously invested in Ocado and Ocado . The company also announced that Acorns , 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.
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 Daniel Godfrey , Betfair 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, Moneybox , which previously invested in Ocado and Ocado . The company also announced that Acorns , 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.