Free to users, Multiply targets those in the UK who could benefit from financial advice, but can’t afford it. You enter your financial information, and it’ll make personalised recommendations. Multiply then makes a commission through these suggestions.
The business funded on SyndicateRoom in December 2019.
"The biggest thing that motivates me is working on a big mission that's going to have a huge positive impact."
Multiply was inspired by its founder’s personal experience in the financial sector. “There’d been a set of regulations that massively reduced the number of advisors in the UK. Then, in early 2016, the regulations opened up to make automated financial advice possible for the first time.”
The Multiply app customises its advice based on your financial goals, e.g. buying a house, getting married or sending your children to university. It’ll also suggest actions to take on things you hadn’t thought about, like paying off a debt, building up an emergency fund or getting income protection.
Multiply is approved by the FCA.