Many people in the UK are currently unable to access investment advice because the minimum investment values are prohibitively high and the fees too steep.
Munnypot was created to address these issues, providing fully regulated advice that is both affordable and easy-to-understand. In addition to its established direct to consumer service, Munnypot focuses on providing its solution as a white label product.
Munnypot will use Livingbridge's equity investment to further develop its technology and enhance its customer proposition.
The deal has been led by Livingbridge Growth, which invests equity of up to £5m, backing founders with bold ambitions for the future. It provides entrepreneurs with transformational capital and expertise to accelerate business potential.
Steve Cordiner at Livingbridge said:
“We are excited to be supporting Munnypot in the early stages of their development. The robo advice sector has grown quickly in recent years and Munnypot has a strong proposition; delivering low cost and affordable advice to consumers.”
Andrew Fay, CEO at Munnypot added:
“We are delighted with Livingbridge’s investment which will enable us to scale up our business and further develop our offer for consumers.”