FinMeUp, a Western Cape-based financial EdTech company, has raised an undisclosed amount in an angel funding round from ZAQ Ventures, a venture capital firm that focuses on investing in startups.
According to reports, the capital raised will be used towards the development and expansion of the financial EdTech startup’s platform and product offerings, including the launch of new features and establishing partnerships along with the implementation and launch of FinMeUp wealth.
Founded in 2020 by Higgo van Biljon, FinMeUp is a tech startup that provides financial education to its users via an online platform. The startup aims to empower individuals with financial knowledge all in one innovative app.
FinMeUp's vision is to educate, equip and enrich its users, taking them from education to execution so that they can become the bosses of their finances. The platform's various innovative, simplistic and user-friendly features and tools allow this vision to become an ever-increasing reality.
Commenting on the startup’s growth and its future plans, Higgo van Biljon, Founder of FinMeUp, told Ventureburn, "New features were put on hold while gaining insights from the co-creating community, which has grown to 18 000 members and reached 50 000 unique users per month, to understand where the biggest gaps in their financial journeys are."
FinMeUp's platform not only provides educational tools relating to finance but can be defined as an incentive-based financial learning system. Users are able to gain advice and insight from a full-time trusted financial advisor. The startup claims to have experienced exponential growth since its launch, having yielded 7000 users within one year.
In the near future, the startup plans to launch a new FinMeUp app along with the FinMeUp Wealth expansion, a platform that will offer insight into insurance, investments, credit tools, and more.