Fintech Start-Up LifeCheq Details Its Plans Of Making Financial Advice Easily Accessible Through Naspers Investment
Fintech Start-Up LifeCheq Details Its Plans Of Making Financial Advice Easily Accessible Through Naspers Investment. Fintech startup LifeCheq has detailed its plans of making financial advice easily accessible through the investment it received from Naspers. Naspers, through its early-stage tech investment vehicle Naspers Foundry, announced a R40 million ($2.5 million) investment in LifeCheq.
Abu Addae, co-founder and CEO of LifeCheq, said in a statement, “Existing solutions for quality financial advice practically ignore more than 2 billion mass affluent clients globally, simply because they’re not wealthy enough. Our mission is to fix that. It is great to partner with Naspers Foundry. They have taken the time to understand our vision and the opportunity in our offering, and we are extremely excited about the journey ahead.” LifeCheq’s AI-powered platform equips financial advisers with the ability to improve client experience and drive efficiency. Its platform combines integrated workflows and an online dashboard to give its users a central place to manage their personal finances, enabling them to set and track their financial goals.
The easy-to-use platform enables independent financial advisers to provide seamless, high-quality financial advice at a reasonable rate while allowing consumers to engage directly with a holistic financial service offering. The platform’s financial advisory services guide consumers to achieve their financial goals, covering important topics including high-value purchases such as a new home or car, improving savings and investment habits, and appropriate contributions to pensions, among others. Phuthi Mahanyele-Dabengwa, South Africa CEO of Naspers, said in a statement, “We are passionate about supporting entrepreneurs that make a meaningful contribution to society. Through LifeCheq, holistic, personalised financial advice can be made accessible to previously underserved South Africans. LifeCheq is empowering people to take charge of their finances – improving their financial well-being and inclusion in the process. This investment supports our focus of backing purpose-driven technology businesses.”
Since its launch in 2018, LifeCheq has helped more than 45,000 users in South Africa gain access to financial advice and planning. This Series A round of investment will be focused on new technology and capabilities to significantly scale LifeCheq’s platform, accelerate its partner experience, and grow its customer base.
