4 years ago
ilumoni Raises €1.3 Million to Help People Borrow Money Better
UK-based ilumoni, a financial wellbeing app, has raised €1.3 million in an over-subscribed seed funding round to help people borrow money better
The app provides users with insights into their borrowing habits and suggests ways to manage debt and reduce interest costs.
ProblemFinancial Services
"Many people struggle to manage their debt effectively, leading to financial stress and high borrowing costs. Existing solutions often only address debt management after it becomes a serious issue, leaving a gap for proactive support."
Solution
"ilumoni provides a free app that helps users understand and manage their borrowing better. It offers personalized insights into borrowing and repayment, including visibility of debt, repayment timelines, and interest costs. The app also provides prompts and scenarios to help users find better repayment options, reduce interest costs, and free up cash."
