Ikigai, the wealth management and banking app for affluent millennials, has raised almost £2 million in a crowdfunding campaign via CrowdCube to accelerate its product roadmap and tech team.
The total amount raised equates to 14.82% equity at a pre-money valuation of £10.95 million. The company previously raised £2.2 million from private and angel investors in a pre-seed round completed in 2020.
Founded by a pair of McKinsey veterans, the firm intends to combine everyday banking and a Visa card with a host of wealth management features backed by a team of experts.
Users are able to set up a budget and automatically invest at the end of the month based on their spending. They can then stay on-top of both their spending and their investments through a single app.
During the Crowdcube campaign, ikigai launched its first stocks & shares ISAs in time for the new tax year. Users can invest up to £20,000 tax-free via the app and call on the services of a personal relationship manager to answer queries and provide investment advice.
Maurizio Kaiser, co-founder of ikigai, says: “The one-size-fits-all does not resonate for the growing number of young people who are seeking a financial partner where they feel valued and heard. This demographic is demanding a certain level of experience from its bank; one that educates on the purpose of wealth management in a safe, technologically secure, and practical manner - without compromising on the high tech and high touch personalised service.”