Emma Technologies Ltd has closed a $600,000 seed round led by Kima Ventures and Aglaè Ventures.
The fintech firm’s banking app Emma helps millennials avoid overdrafts, find and cancel subscriptions, track debt and save money.
Emma Technologies was granted approval by the FCA in January, and the app aims to create a consumer-focused banking experience.
Edoardo Moreni, CEO and co-founder of Emma Technologies Ltd (pictured above), said that Emma was started with the aim of democratising the role of the private wealth manager.
“In an age where a new financial product comes to the market every week, consumers are destined to get lost in a financial chaos.
“We believe they deserve a financial advocate with the goal of driving them through the difficult financial challenges that life presents.
“This round is the first step to fully achieve our mission.”
Rose Dettloff, deal partner at Kima Ventures, added: “Emma brings clarity and transparency to people’s financial lives with a product designed and built for an audience that is eager to grow their personal wealth.
“Kima Ventures is glad to have Emma as part of its family and looks forward to [supporting] future growth and developments.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Aldermore appoints new head of intermediary distribution
Aldermore has appointed Nick Parker (pictured above) as its new head of intermediary distribution within its retail mortgage business...
Ipswich Building Society to develop enhanced savings proposition over next two years
Ipswich Building Society has confirmed that it will develop an enhanced savings proposition over the next two years, with a focus on both digital and face-to-face services...
BTR: Tenant poacher or happy bedfellow?
The sand has been shifting so much under the feet of private landlords that many may believe they are becoming an endangered species...
Paragon bolsters asset finance team
Paragon has appointed Jan Greenhalgh as head of new business within its asset finance division...
Gatehouse Bank appoints new director
Gatehouse Bank has appointed Roger Evans (pictured above) as its new director of home finance distribution...
Rob Lankey to join Shawbrook as director of commercial investment
Shawbrook has announced that Rob Lankey (pictured above) will join as its new director of commercial investment at the end of February...
Secure Trust Bank ceases new mortgage lending
Secure Trust Bank has revealed that it has ceased new mortgage lending...
Starling Bank announces three new partnerships
Starling Bank has expanded its banking services offering with the introduction of three new partners...
Mortgage advisers forecast almost no growth in business levels in Q1
Mortgage advisers expect business growth of only 0.1% in in Q1 2019, according to recent research...
Fidor partners with Finn AI to launch AI-powered chatbot for banks
Digital banking group Fidor has partnered with banking technology provider Finn AI to launch a new AI-powered chatbot for banks...
Tesco Bank cuts mortgage rates
Tesco Bank has reduced rates across its residential mortgage range...