Lumio secures £1.1m in seed funding from angel and crowd investors to scale internationally.
The funding round included contributions from angel investors and 1,208 crowd investors to support product development and international growth.
Lumio provides a personal finance app that connects users to their financial accounts to automate money management and savings. The platform uses data to match customers with suitable financial products and execute automatic transfers.
Lumio has secured £1.1m in a seed funding round from angel investors and over one thousand crowd investors. The capital will support the company in reaching product market fit, improving product intelligence and personalisation, and expanding its operations internationally.
The app acts as a personal finance brain designed to help customers optimise their money through automated transfers and consolidated account views. This latest injection of capital follows a turbulent year and marks a strong start to 2021 for the business as it pursues its target of growing money for one million customers by 2024.
Use of funds
- 01Continue product development
- 02Expand into international markets