Financial wellbeing startup Mintago has closed a US$4.75m funding round, which it will use to enhance its platform and accelerate its growth in the UK.
The London-based fintech has built a platform, which it sells into workplaces, that allows employees to tackle pressing financial challenges such as managing their pension contributions or locate lost pension pots. The app also gives people financial tutorials as well as access to advisors and debt counsellors.
It was founded in 2019 by Daniel Conti, whose background is in capital markets; and Chieu Cao, a former CMO of employee rewards company Perkbox. It underwent significant growth during the pandemic, and the recent cost-of-living struggles have seen it gain renewed impetus, hence the most recent funding round. Mintago now boasts well-known brands such as Oddbox, Chilly’s, Olio and Superscript among its clients.
Mintago claims that companies who subscribe to its platform “attract top talent, retain existing employees and boost productivity”, as well as benefiting from an improvement in workplace culture.
Mintago ‘at forefront’ of financial wellbeing push
Three quarters of the US$4.75m capital injection comes from lead investor BlackLion Ventures, with further participation from Love Ventures and Cur8 Capital. It will use the money to invest in its technology and expand its sales and marketing teams, with a view to onboarding new clients in the near future.
Chieu Cao, CEO and founder of Mintago, says: “We are proud to be at the forefront of the financial wellbeing movement, empowering businesses and giving employees everything they need to navigate their financial lives with confidence. 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.”
Daniel Conti, COO, CFO and co-founder of Mintago, added: “There has never been a greater need for businesses to support their employees’ financial wellbeing. 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.”
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