Based in the Western Cape, FinMeUp has secured an undisclosed amount in funding from ZAQ Ventures (Venture Studio), a venture capital firm that focuses on investing in startups. This funding has been secured from an angel round.
FinMeUp secures undisclosed amount in funding
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According to reports, the undisclosed amount of funding will be used towards the development and expansion of the financial edtech startup’s platform and product offerings.
This included the launch of new features and establishing partnerships along with the implementation and launch of FinMeUp wealth.
The funds will be used to build out the current product, establish new and exciting features and partnerships, and roll out FinMeUp wealth.
Founded in 2020, the new-kid-on-the-block has reportedly experienced exponential growth since its launch, having yielded 7000 users within one year.
FinMeUp is a tech startup that provides financial education to its users via an online platform. The startup aims to empower individuals with financial knowledge all in one innovative app.
In an exclusive interview with Ventureburn, Higgo van Biljon, founder of FinMeUp comments on the startup’s growth and provides key insights into the plans for FinMeUp.
“New features were put on hold while gaining insights from the co-creating community, which has grown to 18 000 members and reached 50 000 unique users per month, to understand where the biggest gaps in their financial journeys are.”
The platform not only provides educational tools relating to finance but can be defined as an incentive-based financial learning system. Users are able to gain advice and insight from a full time trusted financial advisor.
Next year the startup plans to launch a new FinMeUp app along with the FinMeUp Wealth expansion, a platform that will offer insight into insurance, investments, credit tools and more.
Featured image: Higgo van Biljon, founder of FinMeUp (Supplied)