Tumelo raises $19m

Tumelo has announced the completion of a $19 million funding round.

Tumelo is an impact-focused financial tech firm aiming to provide retail investors and pension members with a more sustainable investment system. It uses a white-label software delivered via APIs or a user dashboard.

The fundraise was led by US-based FinTech venture fund Treasury, which is run by the co-founders of Betterment, Acorns, and Say Technologies.

The FinTech said that the investment will extend its reach across the UK, as well as support its expansion into the US, Australia, and other markets.

“Tumelo has transformed from a student campaign into a daring FinTech with a blossoming team,” said Georgia Steward, chief executive and co-founder, Tumelo. “The incredible calibre of institutional and private investors who have committed to our vision and backed our growth is a testament to the strength of our mission, product, culture and execution to date.

“I am excited to work closely with them all to lift our product, team and achievements to the next level and bring shareholder democracy to the global financial system.”

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