(L - R): Daniel Conti, COO and CFO, with Chieu Cao, CEO of Mitago.

Financial wellbeing startup accelerates growth plans via seven-figure investment

London based financial wellbeing startup Mintago has closed a $4.75m (approx. £3.9m) funding round to further enhance its platform and accelerate its growth across the UK.

Mintago, a Financial Conduct Authority (FCA)-regulated company, offers the UK’s most complete and inclusive financial wellbeing solution. Founded in 2019 by Chieu Cao, the former co-founder and CMO of Perkbox, Mintago helps employers to attract top talent, retain existing employees and boost productivity.

It also enables businesses to reduce their national insurance costs and foster a more positive workplace culture. Mintago’s powerful financial wellbeing platform is designed to help employees tackle their most pressing 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.

The London based startup went from strength to strength during the pandemic, underlining its position as a leader in the financial wellbeing space thanks to its comprehensive suite of solutions for businesses, HR teams and their staff.

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

Well-known brands, such as Oddbox, Chilly’s, Lucky Saint, Olio and Superscript, are among the hundreds of organisations already signed up to provide Mintago’s financial wellbeing platform to their teams.

The funding round included $4.75m in equity investment, with BlackLion Ventures, Love Ventures and Cur8 Capital among those involved. 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.

Chieu Cao, CEO and founder of Mintago, commented: “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.”

By Matthew Neville – Senior Correspondent, Bdaily