5 years ago

ilumoni Raises €380K to Help People Borrow Better

  • ilumoni, a British fintech startup, has raised over €380,000 in pre-seed funding from Move Ventures, angel investors Simon Moran and Andy Deller

  • ilumoni's AI-powered borrowing insights app uses open banking and credit data to help users make better borrowing decisions

  • The app provides personalized insights and nudges to help users manage their debt and save on unnecessary interest

  • The company is using the funding to focus on product development and is preparing for a second fundraise to launch the product to market.

      • ProblemFinancial Services

      "People are borrowing without fully understanding their options or implications of their borrowing, leading to paying more in interest and fees than necessary and carrying debt for longer."

      Solution

      "ilumoni offers a free app that provides personal insights and analysis to help users take action and make important changes to their borrowing, including exploring repayment options and switching out of uncompetitive loan or credit card products."

      Covered on