Tickr plans to raise capital in 2020 to aid its European expansion
UK-based social impact investments platform Tickr is seeking more funding next year to facilitate its expansion plans, says its co-founder, Tom McGillycuddy.
McGillycuddy told FinTech Futures that “next year, Tickr plans to expand into Europe and hire more talent in London and Liverpool to help us expand rapidly.”
Although the figure has not yet been finalised, the co-founder notes that it will fall between £3-5 million which would enable it to set up a new office in either Germany, Ireland or one of the Nordic countries.
His reasons for those areas specifically are the strong appetite for more green investments; lack of a tough language barrier and being able to tap into the European market post-Brexit.
The fintech start-up raised £860,000 in a seed funding round ahead of its launch and has raised more than £2.5m since its launch in 2018.
It was co-founded by McGillycuddy and Matt Latham. They both previously worked at Barclays Wealth and Investment Management. Prior to setting up Tickr, McGillycuddy also worked at Wellington Management.
Tickr focuses on firms involved in areas such as climate change, social impact and disruptive technology and claims to be the first impact investing app in Europe, designed for first time investors.
“So far tens of thousands of first-time investors have signed up, investing for their future and the future of the planet,” says McGillycuddy. The start-up is targeting the millennial to Gen Z group, with 80% of its users never having invested before and 40% of its users identifying as female.
The minimum investment is £5, and funds can be held in an ISA, in addition to letting its users back portfolios of globally-listed companies from its minimum investment amount through exchange-traded funds (ETFs). The fintech also has the goal of planting a forest in Indonesia through its referral mechanism.