Belong, a London, UK-based provider of a wealth-building platform, raised £2.95M in Pre-Seed funding.
The round saw participation from Octopus Ventures, Viola Fintech, Connect Ventures, Portage Ventures and January Ventures, along with Fintech angel investors, Ricky Knox and Gautham Radhakrishnan, Nutmeg co-founder, William Todd, leading UK Economist, John Kay and tech industry maven, Edwina Johnson.
The company intends to use the funds to expand operations and its development efforts.
Founded by Avion Gray and Samantha Rosenberg, Belong is a wealth-building platform that aims to make profitable long-term investment more accessible. It offers retail customers an optional loan to scale up a long-term investment in equities. The new low interest ‘Boost loan’ feature allows more money to be invested upfront, thus enhancing the effect of compounding over time. Customers then pay back the Boost loan separately, in small monthly instalments, allowing their investment to continue to grow.
At launch, Belong users are able to choose from five different broadly diversified index tracking funds to invest in. This includes the MSCI World, S&P 500, FTSE as well as climate and ESG focused funds.
FinSMEs
25/03/2024