UK comparison platform in £300K funding boost
Online investment comparison platform jammtoday has raised £300,000.
The investment was made up of £50,000 seed investment from GC Angels alongside £250k from start-up co-founders Nova and Deepbridge Capital SEIS Fund.
Co-founders Adam Bickell and Mark Goldman created the platform to help users think about and visualise their investment goals and creates a simple comparison of shortlisted ‘robo-advisors’ best matched to the user’s needs.
The start-up is using the funding to fast track the consumer launch and expansion of their digital platform which they are developing in conjunction with the FCA’s ‘Project Innovate’, set up to support FinTech companies seeking to improve choice, user-experience and better financial outcomes for consumers.
“Consumers are increasingly aware of the advantages of using digital investment managers as a simple, low cost way to invest money, whether that’s to save for a specific future goal such as a house purchase or for retirement, or just to build a rainy day pot,” said Bicknell.
“But as the number of players in this market continues to grow it is getting more complex and time-consuming for people to review them and to make the right choice.”
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Darren Gowling, senior investment director at GC Angels, which provided the seed funding, added: “Adam and Mark are experienced financial professionals who recognised that there was a huge volume of investment information out there that most people would never be able to access.
“The jammtoday model is one that people are very familiar with for buying everything from house insurance to energy suppliers which immediately makes it very accessible and appealing to investors at all levels."