Prosper, a UK wealthtech company founded by alumni of Tandem and Nutmeg, has initiated a crowdfunding campaign on Crowdcube.
The startup aims to follow in the footsteps of Wise by disrupting the foreign currency exchange market. Prosper plans to reduce the fees typically charged by wealth managers while providing high-interest returns on client balances. Having opened its services to founding members just a few months ago, it currently offers SIPP, ISA, and general investment accounts.
Founded by Tandem veterans Ricky Knox and Nick Perrett, alongside Nutmeg’s COO Phil Bungey, Prosper has already secured £3.2 million in pre-seed funding from various fintech pioneers, including Monzo’s Tom Blomfield and Capital One’s Matt Cooper.
CEO Nick Perrett stated, “It’s time that the people who help you with your money are motivated to keep more in your pocket, not theirs. For too long, fees have been too high and hidden, with language and technology unengaging and antiquated.”
Now, Prosper is offering early access to its crowdfunding campaign, allowing the public to invest between £118 and £500,000.