Family finance app Nosso is the latest UK fintech to bite the dust, following in the footsteps of circular economy firm Twig, open banking player Kikapay and business app Paysme,
Founded in 2020 by Youssef Darwich, the second employee at Tide, and Sigurjon Isaksson, an early employee at Eigen Technologies, the Nosso app allows parents to open up junior stocks & shares ISAs and general investment accounts and select investments from a range of ETFs managed by BlackRock.
The firm last raised $2.8m in a seed round co-led by Octopus Ventures and Anthemis Group.
According to accounts for the year ending June 2023, Nosso had net assets of £346,000, compared to £1.1m the year prior.
Writing on LinkedIn, Darwich says the firm will be winding the business down and closing all Nosso accounts over the next couple of months.
"My main focus atm is to help our customers have a smooth transition to their new home but if you’re building something interesting in the fintech world, please feel free to reach out," he writes. "I believe there’s still so much that needs to be done in this space and once the dust has settled here, I’ll be ready to get at it once again."