The Manchester based digital franchise network raised the capital from GC Angels and private backers.
"Too much time in mortgage advising is taken up by bureaucratic procedures – we wanted to build a digital platform that would remove this burden from advisers, allowing them to focus on all-important client relationships. However, we needed to build something that was flexible enough to fit the incredibly varied mortgage advisory process."
The funding round was led by Cherry Ventures and Seedcamp with participation from a roster of angels.
"The problem with benefits is clear: while they are meant to attract, engage, and ultimately drive productivity, the status quo doesn’t lead to desired outcomes. Our software platform allows companies to load funds and set individual spend rules on how these can be used. Employees are then able to choose from group benefits, such as private medical insurance, mental wellbeing services, or dental plans, while a real per-employee Mastercard opens the door to pretty much any product or service in a tax-efficient and compliant way. It’s a win-win: Employees get tailored benefits, and companies only pay for what’s used, take advantage of tax exemptions and preferred pricing, while streamlining the administration."
The funding round was supported by Morningside Ventures and new private funds.
"There is tremendous need for technologies that can enable effective digital health and wellness, driven by the associated benefit provided to population health,"
The digital twin pioneer raised the capital from existing backer Mercia and the government Future Fund to prepare for commercial launch.
"David and his team have won international recognition for their work and their platform opens up new possibilities for businesses in areas such as construction, transport and logistics, product development and manufacturing. We are pleased to be able to fund them once again to help them launch their product into the market."