Startup championing 'spiritual guidance' industry bags £400k Series A funding

UK startup, PSY Ventures has completed a Series-A investment round of £400k to transform the ‘spiritual guidance’ industry and launch free games and apps to its users.

PSY Ventures - whose flagship site is PsychicGuild.com - was founded in June 2018 and develops mobile games and websites that provide daily guidance like Daily Horoscopes and Free Tarot Readings.

Its portfolio also includes FreePsychics.com and soon-to-be-launched FortuneTelling.com.

Adam Grunwerg, co-founder of PSY Ventures, said: “We don’t see why users should pay $50 up to $100 for a professional Tarot Reading that they can do for free on their computer or smartphone.

“The investment will enable us to hire a top class team that can take our existing portfolio of websites and apps and re-launch them on to the mass market.”

In 2017, a report from IBISWorld estimated that the US psychic services market was worth $2bn per year in revenue.

Adam concluded: “There is a high demand for digital products that provide clarity and daily guidance for users.

“In 2017, Apple’s App of the year was Calm, a meditation app with more than 14 million downloads to date.

“We believe that we can achieve similar results for our business. After all, who wouldn’t want a dose of daily guidance in a such a hectic world?”

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