A company whose AI-powered accelerator programmes enable businesses to build financially savvy teams has closed a pre-seed round of £200,000 from angel investors to expand into new markets.
London-based Wealthbrite’s education platform teaches early career talent the fundamentals of commercial awareness and good financial management skills. This approach nurtures high-performing teams that understand how their company works, how their customers operate, and how their role helps the business grow.
With poor financial literacy estimated to cost the UK economy £20 billion annually, Wealthbrite sees financial skills as vital to plugging the productivity gap that keeps the UK lagging behind its international peers.
Carla Hoppe founded Wealthbrite in 2021. While on track to becoming a partner at EY – following extensive experience at fellow Big Four accountancy firm PwC – she decided to change paths to break the taboo around financial literacy in the UK.
“Money is the number one cause of mental health issues in the UK. There’s a chronic lack of financial skills, and it is having a significant impact, not just on individuals but also on businesses’ bottom lines,” said the CEO.
The recent pre-seed round came from angel investors representing the UK manufacturing, financial services and tech sectors. Wealthbrite says 70% of its investors are from underrepresented communities, including women, ethnic minorities, and those with lower socioeconomic backgrounds. The funding will enable the company to invest in its AI capabilities and expand its team.
“We are building the next generation of rainmakers and wealth builders to deliver economic success for businesses and their people,” added Hoppe.
“The knock-on effects of building financial skills can be seen in better work performance, better mental health and wellbeing, and greater social mobility.”
Jo Wetz, CEO of Element Materials Technology and angel investor in the company, said: “If we’re serious about creating opportunities and reducing inequality in the UK, understanding how money works is a critical foundational step.
“That’s why I’m excited to be backing Wealthbrite to make this happen.”
Mary Bonsor, founder of Flex Legal and also an angel investor, added: “I’m excited by Wealthbrite’s mission to increase social mobility and upskill future generations with key financial skills. We need to close the financial literacy gap, and I’m delighted to be an early-stage investor.”