Pynk.io, a British social investing platform, has raised £100,000 from 365.fintech, a Slovakian corporate venture capital fund focused on providing financing and support to early-stage technology startups disrupting financial services. The raise was matched by another £100,000 from the UK’s Future Fund, bringing the Startup’s total funding for the round to £1.6m (inc. Future Fund match funding).
Pynk.io is a 0% Fee wealth management app, powered by the proprietary Wisdom IN Crowds (trademark) AI platform. The AI aims to remove bias of any individual investors by analysing information from tens of thousands of market participants and dynamically identifying the most correct users and their strategy for a given asset at any point in time.
Over 35,000 users contribute market price predictions via a gamified app, then Rose AI analyses user predictions to train and find ‘Super-Predictors’ and if the prediction data and Investment Committee are in agreement, the portfolio is adjusted accordingly. This creates the first Wisdom IN Crowds (trademark) managed portfolio.
Kaiku was delighted to help Pynk with this £200,000 raise on their journey. Shanil Shah, Kaiku Deals Lead, commented ‘we have been delighted to support the Pynk team on their journey. Pynk has a unique and disruptive product and we look forward to seeing more success and development of their investment platform, alongside working with them on future fundraise rounds.’
Pynk was founded in May-2008 and gained significant traction in 2020, continuing their partnership with NatWest, winning Best AI Startup (AIBC) and achieving a semi-final position at Web Summit 2019.
Rupert at Pynk commented: “It’s great to be have Fintech.365 and Kaiku on board – we are quite selective when taking on professional investors as we think it’s imperative to have a strong cultural fit and that they are in full support of our longer term vision of building a better investment model for retail investors”.
For more details visit: www.pynk.io