Financial wellbeing startup Mintago has closed a £3.9 million funding round to further enhance its platform and accelerate its growth across the UK. 

Founded in 2019 by Chieu Cao, the former co-founder and CMO of Perkbox, Mintago aims to help employers to attract top talent, retain existing employees and boost productivity. 

It also enables businesses to reduce their national insurance costs and foster a more positive workplace culture.

Mintago’s financial wellbeing platform is designed to help employees tackle their most pressing financial needs, such as managing pension contributions and locating lost pension pots through its Pension Hunter tool. 

The platform also enables employees to take control of their finances with free access to financial advisers, debt counselling, savings tools and unbiased financial education programmes. 

The London-based startup says that demand for its platform rose during COVID and, due to the cost-of-living crisis, in the time since. Brands such as Oddbox, Chilly’s, Lucky Saint, Olio and Superscript are among the hundreds of organisations signed up.

‘I’m not worried about fraud – I just want to get paid!’

BlackLion Ventures provided the lion’s share of the investment, supported by Love Ventures and Cur8 Capital. 

“We are proud to be at the forefront of the financial wellbeing movement, empowering businesses and giving employees everything they need to navigate their financial lives with confidence,” said Cao. 

“This funding underlines Mintago’s immense potential, and with the backing of some exceptional investors, we are excited to be able to fast-track our growth in the months and years to come.”

Daniel Conti, COO, CFO and co-founder, added: “There has never been a greater need for businesses to support their employees’ financial wellbeing. 

“The cost-of-living crisis is a source of significant stress for millions of Britons, and this can naturally impact their work life – the best employers recognise this, and are upping their support for staff by providing the necessary financial planning tools and access to advice, in turn building better relationships with their employees.”

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