Nosso - making investment a family thing
by Startacus Admin
The lowdown on London-based fintech startup Nosso and its platform where you, your family and friends can invest to fund your child’s big moments.
Among the many terrors of raising a child - will they be swallowed by a python if you turn your back; is your toddler displaying sociopathic tendencies; was that a sneeze or the Black Death - there are significant financial considerations for their future.
Sure, the keyword is their future, but we have to pay for it! Your child will need to go to school, college, university, Machu Picchu, they’ll need a Playstation 7, a 32K TV, and a prom dress that costs more than a wedding dress. And obviously, we are happy to invest in their future. Perhaps other family or even friends would be happy to pitch in?
London-based fintech startup Nosso has created a platform for people to fund investments to, in turn, fund your child’s big moments (or perhaps to save so that they can look after you when you’re old, but that’s on their conscience).
There are no birth certificates and mountains of paperwork to set up an account, and you can easily add a partner so that not only one parent or guardian manages it alone. You choose a risk level that you are comfortable with for the investments, and the theme of those investments - such as carbon reducing projects, health, water - and it’s time to start gambling that college fund. Although only 10% of the money in the account will be used in investments. A handy link means that anyone else who wants to chip in to the investment account can do so, and can leave a message and photo with their gift.
In March, Nosso won Best JISA and Best New Investment Platform 2022 from Boring Money, which comes hot on the heels of their February announcement that they had raised £2 million in a funding round led by Octopus Ventures and Anthemis. Currently, the platform allows investment via Junior ISAs or General Investment Accounts, but this funding will help Nosso launch additional financial products in the future, including more flexible Junior Investment Accounts.
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Published on: 11th March 2022
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