Kestrl, a UK-based mobile budgeting app, has successfully secured its initial £160,000 funding target through its equity crowdfunding campaign on Seedrs. Founded earlier this year, Kestrl’s vision is to help users to combine their financial goals in life with their personal values, in order to make a real and measurable change for good on the world around them.
“Kestrl was founded on a single idea, that no one should have to compromise their values when it comes to achieving their goals.”
Kestrl offers the following:
- An app-linked debit card: Allowing users to spend, budget, and save with full knowledge of where their money is at all times.
- A wealth calculator: Using monthly income and spending habits, Kestrl can forecast how users’ net wealth is likely to grow over the course of their lives, and consequently when they’ll likely reach their goals.
- The Kestrl marketplace: A marketplace of products from third parties that align to users’ specific personal values.
Kestrl also noted it will offer 3 subscription tiers, with budgeting and marketplace access offered for free, with additional features such as Goals tracking, savings accounts and a Debit Card offered in a £1.99 and £4.99 tier.
Freemium – £0
Standard – £1.99
Premium – £4.99
The company also revealed:
“We will also generate revenue through commissions from 3rd parties. Commissions have been negotiated with our first 5 providers and range from fixed fee for investments, to a recurring commission for Energy and Pensions switching.”
Funds from the campaign will used to continue the growth and development of the Kestlr platform.
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