Oval Money secures £1.3m funding
Written by Chris Lemmon
UK-based savings platform Oval Money has raised £1.3 million in its latest funding round, with more than 60 per cent generated through the Crowdcude platform.
The FCA-authorised firm plans to use the funds to help launch a feature within the platform that will allow people to invest their money in the industry’s first multi-sided marketplace for savings and investments products.
The startup set itself a goal of £500,000 for the funding round, which it achieved in less than 72 hours – making it one of the most successful raises on the Crowdcude platform. Oval also managed to attract investment from industry figures including Fabio Cannavale, chief executive of Lastminute.com and Mauro Del Rio, founder of Buongiorno, which is part of the DOCOMO Digital Group.
Benedetta Arese Lucini, co-founder of Oval Money, said that the company was overwhelmed with the support it has received. “Not only because it illustrates true value in our product, but because it has allowed us to focus on the next chapter in the platform’s development, allowing us truly to democratise saving and investment.”