Posted on November 8, 2016 by staff

Wealthify passes crowdfunding target


Online investment service Wealthify has surpassed its £1 million crowdfunding target.

The Cardiff-based firm attracted more than 650 people through Seedrs and will use the money to realise its plans for growth.

It will do so through boosting national brand awareness, opening new sales channels and extending its products and services to include pensions and other ISAs.

“We firmly believe that this new way of investing will play an increasingly important role in people’s long-term financial planning,” said Richard Theo, co-founder and chief executive.

“The fact that more than 650 investors supported this round of funding shows that the public shares our confidence in our mission, the brains behind it and the business model, even at this early stage in our development.”

The investors share 9.3 per cent equity in the business between them.

Wealthify has previously raised £1.55m from investors, grants and other sources and has also been backed by the Welsh Government.