The deal
Financial wellbeing start-up Mintago has raised $4.75m in equity investment. The funding round is led by BlackLion Ventures with Love Ventures and Cur8 Capital among other notable investors.
The FCA-regulated fintech claims to offer the UK’s most complete and inclusive financial wellbeing solution. Its platform is designed to help employees tackle their most pressing financial needs. Examples include managing pension contributions and locating lost pension pots through its Pension Hunter tool. The platform also enables employees to take control of their finances with free access to financial advisers, debt counselling, savings tools and unbiased financial education programmes.
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Why it matters
Demand for its platform is rising due to the cost-of-living crisis. Ongoing economic turbulence is emphasising the need for employers to offer robust financial wellbeing support to their staff.
Mintago will use the funding to invest further in the technology underpinning its financial wellbeing platform. It will also expand its sales and marketing team to accelerate the growth of its client-base.
Chieu Cao, CEO, founder of Mintago, said: “We are proud to be at the forefront of the financial wellbeing movement. We are empowering businesses and giving employees everything they need to navigate their financial lives with confidence. This funding underlines Mintago’s immense potential. With the backing of some exceptional investors, we are excited to be able to fast-track our growth in the months and years to come.”
Daniel Conti, COO, CFO and co-founder of Mintago, added: “There has never been a greater need for businesses to support their employees’ financial wellbeing. The cost-of-living crisis is a source of significant stress for millions of Britons. This can naturally impact their work life. The best employers recognise this, and are upping their support for staff by providing the necessary financial planning tools and access to advice, in turn building better relationships with their employees. Mintago is on a mission to support its clients in this journey.”
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