Goal based investing platform Fountain raises first seed round
by Startacus Admin
Fountain, a London based fintech startup aiming to make investment advice more accessible and empower people to achieve their financial goals, has secured it's first seed round.
A goal based investing platform, Fountain was born only a few months ago by former Citigroup traders Dann Bibas and Nishil Parekh with a vision to digitize the advisory process and offer bespoke investment plans that revolve around people’s goals. Put more simply - they realised that investment advice hadn't adapted to the needs of the smartphone generation. Dann wrote more generally about the fintech revolution for Startacus only a few months ago - and we are delighted to see this seed investment come to fruition so quickly.Using smart tech to build investment plans that can help you reach your goals more effectively, by automating the advice
process and by bringing it online, Fountain can offer bespoke investment plans at a fraction of the cost of a traditional advisor. Bingo - potential disruption!Their tech reviews your objectives and how much you can put aside, and offers personalized investment plans that you can put into action. By continuing to collect data on their customers needs, robo-advisors evolve with them, becoming smarter, more personalized and ultimately more helpful. Instead of confusing acronyms like ISAs, LISAs and SIPPs- Fountain demystifies the jargon.
The investment round was led by Patrick Day, chairman of Day Cooper Day, a specialist pensions provider who had this to say about the investment: “Current financial advice offerings have struggled to keep pace with the rapidly changing needs of the smartphone generation. Fountain will bring a leap forward in the market.”
Dann Bibas, co-founder, commented “The future looks very bright for Fountain, we’re simplifying investing at a time when the UK consumer is embracing new technologies to grow their hard earned money”.
They will use this seed round to invest in technology, growth and work towards their FCA license. Congrats Dann, Nishil, and all the team at Fountain.
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Published on: 22nd November 2017
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