Pre-Seed17 August 2023

Communion secures £2.5m in pre-seed funding led by Target Global to launch its financial wellness application.

The pre-seed round was led by Target Global with backing from angel investors and creative partners.

£2.5MPre-Seed

Communion provides a mobile application designed to help users build wealth and manage financial anxiety through behavioural science and structured savings tools. The platform combines automated savings features with psychological coaching to improve personal financial health.

Fintech startup Communion has secured £2.5m in pre-seed funding to support the launch of its financial wellness application. The round was led by Target Global, with participation from several angel investors and creative partners.

The newly acquired capital will support the company as it introduces its platform to the market, offering users tools focused on habit formation and behavioural change. The application provides structured savings accounts alongside psychological coaching designed to address money anxiety.

The funding arrives during a period of widespread financial uncertainty marked by rising living costs and economic pressure. Communion aims to provide a distinct approach to personal finance by focusing on the psychological drivers behind saving and wealth accumulation.

From the founder

"We believe everyone has the ability to take control of their money and build a buffer against the world, so long as they’re given the right conditions, tools and support to do so. We created Communion for people to fix their relationship with money and live life with more autonomy and less fear."

Daniel Hegarty

Founder and CEO at Communion

Investor perspective

"We’re thrilled to be supporting Dan and his team at Communion on their mission to arm people with a financial buffer against the world. Fintech and the finance industry at large are awash with money apps and tools but none that go to the heart of what it really takes to build wealth with confidence and control. With the backdrop of the cost living crisis and rising concerns about the nation’s financial future, there has never been a better time to address the advice gap in the UK."

Ricardo Schäfer

Partner, Target Global