UK fintech start-up Nude raises £3.3mn from Seedrs campaign
is the home savings app that has been created to help change the way people save for and buy their first home designed to make the process easier, faster and fairer. Up to 13 million 18-35 year olds in the UK want to own a home, and Nude wants to make that happen. It was formed to stand up for first-time buyers, improve the outdated home-buying experience and change a part of society that they believe is unfair.
"We don't think the financial world is very friendly, or easy, and it definitely doesn't make you feel as good as you should when you're managing to save up a house deposit — we're here to change that. Nude is like having a friend that's really good with money with you, all the time." - Marty Bell, CMO and Co-founder of Nude
The new savings account, financial coach and app have been designed to help aspiring home-owners better understand their finances and the home-buying process, so they can save for and buy their home faster.
“The challenges facing young people are huge, with a massive wealth imbalance, a complex financial system and little help. We've been planning, testing and building Nude to make the financial world fairer and easier, starting with helping people buy their first home faster and easier than ever before.” - Crawford Taylor, CEO and Founder of Nude
The business raised £1.7mn last year in growth capital last year, secured backing from the government’s Future Fund and benefited from an innovation grant from Scottish Enterprise.
What comes next?
Nude is ambitious for the future; it has plans to apply for a banking license to launch a fully-fledged mortgage. Part of its exciting journey to become one of the most exciting fintech companies in the world also includes introducing children’s accounts, retirement savings and much more.
The FinTech Show: Bitcoin, crypto mining, and payments
In episode six of the FinTech Show (originally broadcast live on 11 June at 2pm BST), Scott Birch and Will Girling discuss:
- El Salvador becoming the first country to make Bitcoin legal tender
- China's decision to clamp down on crypto mining operations
- The new developments in post-COVID payments, including the EU's decision to give every citizen a digital wallet
We also explore the newly released June '21 edition of FinTech Magazine, including a special look at our profile piece on HOOPP and the future of small business lending (guided by iwoca). Special thanks go to Valeria Simantob for providing the front cover of that issue.
Before you go! Follow us on LinkedIn and make sure to tune in on 25 June for the next FinTech Show.