The seed round for the startup fintech business was led by Ada Ventures, a venture capital firm focussed on businesses with bold ideas that change the world. The firm’s portfolio includes companies like Predina, an AI tech company designed to prevent car crashes in hazardous weather conditions, and Spill, a business that supplies mental health support through the team messenger app Slack.
Investing in a Brighter Future and Diversifying Your Portfolio
Founded by entrepreneurs Matt Latham and Tom McGillycuddy, the impact investing fintech startup separates itself from other apps in the business by specifically targeting businesses with positive impacts on the world, whether it be environmental sustainability or societal impacts like access to education and healthcare. Furthermore, the app even allows users to offset their carbon footprints via a subscription that is applied to projects protecting the climate and reducing emissions.
“We also realized there was zero consideration for the underlying impact of the investments people were making; it was purely about the return,” McGillycuddy told TechCrunch. “Coming from Wigan and Liverpool, we were the first people in our families to be exposed to this world, and it didn’t seem right.”
The startup company also offers “round-ups.” By connecting a bank account with the fintech app, the business will round up change from your purchases and apply the value to your balance on the platform. The startup company claims that its UK user base is nearing 100,000.
Mobile Investment Apps on the Rise
No longer are the days of dialing your stockbroker over the phone. Anyone can invest simply by downloading one of many fintech apps for their smartphone and setting up an account.
Market research projects that the global fintech market will reach a value of $460 million by 2025. Startups like Tickr, Public, and Moneybox are just a few examples of the options available for those looking to invest. Public, which describes itself as an “investing social media,” has raised a total of $88.5 million from investors, and Moneybox boasts $69.6 million in funding since its founding in 2015.
Still, Tickr’s app stands out among the crowd as an investing platform specifically for users looking to support businesses with positive environmental and societal impacts on the world.
About the Author
James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.