Ikigai closes oversubscribed crowdfunding campaign

London-based wealth management app Ikigai has closed its oversubscribed crowdfunding campaign.

The young fintech raised over £1.9m from more than 1,700 investors, taking its total raised to date to £4.1m.

Ikigai will use the fresh cash to grow its employee numbers, accelerate its product launches and offer more customers its premium service.

“The success of the Crowdcube campaign has demonstrated an appetite to align premium financial services with the digital world, especially when it comes to combining everyday banking with wealth management,” Maurizio Kaiser, co-founder of Ikigai, said.

“The one-size-fits-all does not resonate for the growing number of young people who are seeking a financial partner where they feel valued and heard. This demographic is demanding a certain level of experience from its bank; one that educates on the purpose of wealth management in a safe, technologically secure, and practical manner - without compromising on the high tech and high touch personalised service.”

The round, which was overfunded by 158 per cent saw Ikigai hit a pre-money valuation of nearly £11m.

“This round of funding is encouraging as it validates the need for a fintech like us to provide a holistic view of money combined with purpose,” Edgar de Picciotto, co-founder of Ikigai, added.

 “We listen to our clients and want them to experience the true meaning of financial wellbeing, especially as they enter their prime earning years. Ikigai is here to ensure it helps each client become money-savvy using a transparent, goals-based and values-driven banking experience - where experience is core to instilling confidence when working towards personal ambitions and financial freedom.”

The fledgeling fintech recently threw its hat into the stocks and shares ISA ring, offering accounts for both new and existing customers.

Just before its official launch back in March 2021, Ikigai also joined forces with financial fraud platform TruNarrative.

TruNarrative’s single API will help Ikigai track customer accounts, payments and screen for risks both for transactions and ongoing monitoring.