Pynk has raised £1.6m in seed funding from investors including 365.fintech to launch its retail investor wallet and expand its engineering team.
The seed round was backed by investors including 365.fintech, Seedrs, and FunderBeam to support product development and team expansion.
Pynk is a wealth management startup that combines artificial intelligence with crowd wisdom to provide accessible investment portfolios. The company is headquartered in London and operates a platform designed to help everyday people make smart financial choices.
Pynk has secured £1.6m in a seed funding round backed by 365.fintech, Seedrs, and FunderBeam, alongside supporters including Founders Institute and Natwest Accelerator. The capital injection will enable the wealth management startup to launch its retail investor wallet later this year and expand its engineering team by opening a new office in Toronto.
Founded in London, Pynk harnesses predictive data from a global community of retail investors to power its artificial intelligence technology and generate market forecasts. The latest financing will support the company as it scales its operations and continues its mission to make financial markets more accessible and equitable.
From the founder
"The investment brands we know today fall under two extremes: self-directed DIY investing, where it may be fun and sticky but, as many have pointed out, the risk of losing your money is extremely high; on the other hand, done-for-you portfolios which are managed for you or simply indexed but do not provide any flexibility, meaning you don’t get a sense of involvement, or the ability to avoid general market losses during unprecedented events like COVID-19. Investment is better when people work together to avoid bias, which is why we are building a new model for investors combining AI and Crowd Wisdom to create Wisdom in Crowds™. Our mission is to protect people from losing their money while empowering them with the tools to enjoy making more thoughtful investment decisions"
Seth Ward
co-founder and CEO at Pynk
Investor perspective
"We’ve yet to see another company like Pynk that is using technology to help make investment accessible to everyone. In our current climate, it has never been more important to be financially literate, so we’re proud to be supporting Pynk launch and lead the change in transforming the investment industry."
Rudolf Vrabel
Managing Director, 365.fintech
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets
