Welsh fintech monva has doubled its crowdfunding target, attracting 799 investors and raising over half a million pounds for a new AI-powered financial comparison service.
The Deeside based smart-switching service has been set up by former MoneySuperMarket, MBNA and Virgin Money execs Steve Wiley and Stuart Wakefield.
The monva website, currently in beta, presently allows comparison of credit cards, with further services for loans, energy and communications to be launched later this year. The service present users with an AI-based money saving assistant, Mo, designed to give users access to better deals which are tailored specifically for them.
Monva has been building out its executive team pre-launch with the appointment of Eileen Harte, formerly of MoneySuperMarket, as senior partnership development manager and new CTO Simon Dawson, who previously worked for MoneySuperMarket, IBM and Paybreak.
Steve Wiley CEO of monva says: “We believe that the strong level of investment in monva, despite the challenging climate demonstrates the consumer demand for a better comparison industry, something that we know monva can deliver.
Recent times have highlighted just how important it is for households to ensure they’re not paying over the odds for their outgoings. With deals becoming less competitive, and household incomes becoming more stretched, our mission is to you cutting edge technology to cut down on hassle and make switching easier, faster and more beneficial for customers.”