GC Angels and Deepbridge Capital backs jammtoday in £300,000 funding round
UKBAA members, GC Angels and Deepbridge Capital, has backed online investment tech start-up, jammtoday, in a £300,000 funding round, which will be used to develop its consumer focused investment comparison site.
Co-founders Adam Bickell, 35, and Mark Goldman, 44, raised £50,000 seed investment from GC Angels alongside £250,000 from start-up co-founders Nova and Deepbridge Capital SEIS Fund.
An online investment comparison platform, jammtoday, intends to cut through the confusion around digital investment managers or so-called ‘robo-advisors’, some of which offer investments starting at just £1 a month.
The start-up helps users to think about and visualise their investment goals and then creates a simple comparison of shortlisted robo-advisors to best match the user’s needs, investment amount and preferred risk level.
Adam said: “Consumers are increasingly aware of the advantages of using digital investment managers as a simple, low cost way to invest money, whether that’s to save for a specific future goal such as a house purchase or for retirement, or just to build a rainy day pot.
“But as the number of players in this market continues to grow it is getting more complex and time-consuming for people to review them and to make the right choice.
“We’re passionate about making investment intelligence available to everyone and the funding and support we have received has made an enormous difference to the speed and ease with which we have been able to develop our model, which we will be bringing to market soon.”
The Manchester business is using the funding to fast track the consumer launch and expansion of their digital platform.