Posted on June 24, 2019 by staff

Auto-investment app tickr doubles funding target to £1m


London-based automatic-investment app tickr has achieved double its initial crowdfunding target of £500,000.

The app specialises in investment in good causes, known as ‘impact investment’, and was founded Tom McGillycuddy and Matthew Latham.

Users can select a ‘theme’ which resonates with them – such as climate change, equality or disruptive technology – then select a risk level and begin investing from as little as £5.

The round, announced in April, is expected to close this week McGillycudy said via the Seedrs platform.

Once closed it will take the total raised by the start-up to around £2m.

McGillycuddy said in April that millennials are twice as likely to invest in a portfolio that reflects their values.

“Tickr was built to smash this perception by providing a simple and forward-thinking way to invest in truly transformative companies combating social and environmental injustices, while potentially earning strong returns on their cash,” McGillycuddy said in April.

“We’ve been amazed with the uptake so far and we’re confident this crowdfunding campaign will take us one step further in realising our ambitions.”

The tickr team has expanded to 11 full-time members, with offices in both London and Liverpool.

The app also revealed to BusinessCloud that it is in talks with challengers banks to embed its platform.

In March, the start-up was announced as one of ten ‘Rising Stars’ by Tech Nation.