Wealthyhood, The Super Wealth-Building App For Millennials Nets Funding Of £765,000
After gaining 4,000+ active users within 4 months of its launch Wealthyhood has gathered funding of £765,000.
Wealthyhood, the pioneering DIY wealth-building app for long-term investments has secured funding of £525,000 in a round led by Genesis Ventures. Although, the startup raised an amount of £240,000 from its previous investment round.
Alexandros Christodoulakis, Co-founder & CEO at Wealthyhood on achieving such a huge milestone said:
–Closing our pre-Seed round is a major milestone for the Wealthyhood team, especially when we have great partners joining our journey. A big thank you for your trust to Genesis Ventures’ partners, Dimitris Maroulis and Stergios Anastasiadis, who led the round, but also to all our amazing angel investors. I’m really generous to have them by our side, sharing the same vision, to rationalise the way our generation invests. –
Talking about the release of the app and latest expansion plans Christodoulakis said
–As for next priorities, we’re releasing the Wealthyhood mobile app by the end of May and looking forward to expanding to South and Southeastern Europe in the coming months. Time to make smart, simple and personalised wealth-building available to all! Onwards and upwards Wealthyhood team! –
Founded in 2021 by Co-founder & CEO Alexandros Christodoulakis and Co-founder & CTO Konstantinos Faliagkas the app allows investors to intelligently invest money the way they want, with fewer fees. Moreover, their blend of personalisation and automation even helps beginner investors to navigate the stock markets and put their money to work, like the top-1%.
It also allows users to create a fully personalized portfolio that matches their preferences, consistently invest with low fees and automatically maintain it over time. Thus making it quite different from recently funded startups like Nexta, and Trustap, etc.
With a wide range of services, and having stats in their favour it seems like the app is going to witness expedited growth. Because by 2030 Millennials will control $20 trillion in assets via the transfer of wealth from previous generations. Also, it is reported that 80% of new retail accounts are opened by investors under the age of 40. Thusly, presenting a huge number of customers to garner.
The startup has also developed a community of over 50 Wealthyhood Ambassadors from the top UK & European universities & investment societies.
Having multiple user accounts with £100,000 invested. The startup is on a mission to rationalize the ways of investment and also aims to disrupt the fintech landscape.