Mintago secures $4.75m in funding round

Financial wellbeing startup Mintago has closed a $4.75m (£3.90m) funding round to accelerate its growth across the UK.

BlackLion Ventures has been the lead investor in the funding round ($3.75m) (£3.08m), followed by Love Ventures and Cur8 Capital.

Mintago will use the funding to invest further in the technology underpinning its financial wellbeing platform. It will also expand its sales and marketing team to accelerate the growth of its client-base.

Founded in 2019 by Chieu Cao, the former co-founder and CMO of Perkbox, Mintago’s financial wellbeing platform is designed to help employees tackle their financial needs, such as managing pension contributions and locating lost pension pots through its Pension Hunter tool.

The platform also enables employees to take control of their finances with free access to financial advisers, debt counselling, savings tools and unbiased financial education programmes.

Mintago said that the London-based startup went from “strength to strength” during the pandemic, thanks to its comprehensive suite of solutions for businesses, HR teams and their staff.

Additionally, demand for its platform has also risen due to the cost-of-living crisis and the ongoing economic turbulence, emphasising the need for employers “to offer robust financial wellbeing support to their staff.

Cao said: “We are proud to be at the forefront of the financial wellbeing movement, empowering businesses and giving employees everything they need to navigate their financial lives with confidence. This funding underlines Mintago’s immense potential, and with the backing of some exceptional investors, we are excited to be able to fast-track our growth in the months and years to come.”

Daniel Conti, COO, CFO and co-founder of Mintago, added: “There has never been a greater need for businesses to support their employees’ financial wellbeing.

“The cost-of-living crisis is a source of significant stress for millions of Britons, and this can naturally impact their work life – the best employers recognise this, and are upping their support for staff by providing the necessary financial planning tools and access to advice, in turn building better relationships with their employees. Mintago is on a mission to support its clients in this journey.”