UK savings and investment FinTech Smarterly has raised £7mn.
The round was led by Major Oak, a family office which invested £5mn.
It also included existing angels and crowdfunders.
The business started in 2014, and no has 100 staff, 80,000 customers and £230mn assets under management.
What does this mean?
With many UK consumers struggling to save, Smarterly’s solution allows employees to automatically save and invest their income by having part of their paycheque put in an ISA. It’s an accessible service as it starts at just £10 per month. The FinTech will use its funding to continue expansion within the UK.