UK-based financial wellbeing startup Mintago has raised $4.75 million in a Series A funding round. The platform is a tool for employees to gain better financial health as it offers pension help, financial advice, savings options and an AI money helper. It is also viewed as a tool for 'staff retention' for employers, suggesting financially healthier staff stay longer.
The startup was founded in 2019 by Chieu Cao, the former co-founder and CMO of Perkbox and is a Financial Conduct Authority (FCA)-regulated company. The equity investment round was led by BlackLion Ventures ($3.75 million) and includes Love Ventures and Cur8 Capital among those involved. Funding will fuel further enhancements of the platform's offering and fund the company's expansion throughout the UK.
“This funding underlines Mintago’s immense potential, and 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,” says Cao.
Companies using Mintago to provide a financial wellbeing offering to their employees include Oddbox, Chilly’s, Lucky Saint, Olio and Superscript.
“The cost-of-living crisis is a source of significant stress for millions of Britons, and 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,” says Daniel Conti, COO and CFO of Mintago.
Lead image: Mintago founder Chieu Cao and Daniel Conti (COO & CFO) via Mintago. Photo: Uncredited.