Hugosave, a Singapore-based Wealthcare® and financial savings app, introduced the completion of its US$4 million pre-Collection A funding spherical, bringing the entire quantity of funds raised to US$10.5 million.
Nearly all of funding was offered by present shareholders, together with 1982 Ventures and Woodside Holdings Funding Administration, and a number of other present company enterprise buyers.
The funds can be used to speed up Hugosave’s presence within the area, enhance the breadth of choices and enhance the person journey.
In April this 12 months, Hugosave had secured a Main Fee Establishment (MPI) license from the Financial Authority of Singapore (MAS).
Because the launch of its app in July 2021, Hugosave mentioned that it has helped over 40,000 customers develop wholesome monetary habits by spending smarter, saving extra, and investing diligently.
“Prior to now 2.5 years, we’ve created a product, constructed a group, obtained licences, gained buyer traction, constructed a state-of-the-art knowledge seize and evaluation course of, and constructed partnerships.
This fundraising is one other main milestone,”
mentioned David Fergusson, Chief Government Officer and Co-founder of Hugosave.
“Hugosave is a Wealthcare® and financial savings app constructed for the open banking period. Our modular structure is a really open platform, permitting us to construct partnerships with anybody on the lookout for an embedded finance resolution.
Mixed with our behavioural engine, this provides us the flexibility to create thrilling and extremely personalised monetary journeys for our customers,”
added Braham Djidjelli, Chief Product Officer of Hugosave.