Greek-founded startup Wealthyhood raises over €900k for its innovative wealth-building app for milennials – EU-Startups
Founded in 2021, Wealthyhood is a pioneering DIY wealth-building app for long-term investments that is guiding a new generation to build wealth intelligently. The startup, which is based in London and has a Greek founding team, has now raised a total of over €900k, after having just raised an additional €630k in a raise led by Genesis Ventures and 10 angel investors.
Founded by Alexandros Christodoulakis and Konstantinos Faliagkas, Wealthyhood helps investors make long-term intelligent choices by personalizing investment guidance and offering fewer fees. The firm is blending personalisation and automation so that even beginner investors can navigate the stock markets and put their money to work for them.
It means that investing won’t simply be in the realm of the 1%.
Weatlhyhood is on a mission to rationalise the way our generation invests with smarter tools to develop, finetune and maintain investing individual strategies and wealth-building mindsets. It provides personalised insights to help users invest in what matters most to them, and to reach their personal goals.
The investment market is one with massive growth potential. Focusing on the millennial generation, Wealthyhood is well-positioned to soar to success. In the EU market, there is a population of 150 million millennials, and over €500 billion invested in direct retail platforms. The market is huge and it’s still growing.
It’s reported that 80% of new retail accounts are opened by investors under the age of 40, and this new generation has new expectations and new demands for investing compared to the past. It’s also reported that millennials quill control $20 trillion in assets by 2030.
Initially launching in the UK, Wealthyhood aims to guide European millennials to create a fully-personalised investment portfolio, that matches their preferences, encourages continual investment through low fees, and can be automatically maintained. It’s an app that is promoting long-term financial investment – for those who want to rationally and sustainably grow their money.
Since launching, the app has secured over 4k users and has developed a community of 50 Wealthyhood Ambassadors from top UK & European universities and investment societies. In the coming months, this fresh funding will be used to fully release the mobile app, moving on from the web platform. It will also be used to expand through Europe with a focus on South and Southeastern Europe, as well as growing the team and developing the product.