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Successfully funded
overfunded
Oval Money
125%
Raised
£626,310
Investors
919
Target
£500,000
Equity
11.13%
Pre-money valuation
£5,000,000

Oval Money is an award-winning European automated saving and crowd investing marketplace that brings simple access and diversification to investment solutions for people who don't have large sums of capital. The company is backed by VCs and supported by European banks.

  • Attracted over 50k users already in UK and Italy
  • Average saving of £110 per user per month, growing at 15% weekly
  • Obtained its FCA authorisation as an arranger for deals in investments
  • Founded by experienced entrepreneurs at Uber and in crowdfunding
Information The company had £150,000 of its SEIS allowance remaining at the start of this raise. This will be allocated to investors on a first come first served basis. Any investments made after that limit has been exceeded will not be SEIS eligible but will potentially be eligible for EIS. The potential tax relief of any investment will be confirmed by email to investors, after they have submitted their applications to invest, and will depend on an investor's individual circumstances.

Idea

The Oval Money app helps users save money and then find the best financial products to help make those savings grow. Oval was created to help bring inclusion, education, and fairness back into personal finance. We aim to empower users to TRACK their full financial history, LEARN to make better spending decisions, SAVE automatically, and crowd INVEST through a marketplace of financial products.

We are targeting young adults struggle to stay on top of their savings and find investment opportunities; these are generally 18-44 year olds with median incomes of €1600 per month, and with half have their income that varies from month-to-month, due to the nature of their work.

We believe that our users become more successful in savings and investing if they are given simple tools and access. Over the last 6 months, Oval has made a real difference for many users. On average, users are saving an impressive £110 per month and the average user is growing their savings by 15% per week.

Oval has won considerable acclaim. We have been awarded best personal finance app at the Innovate Finance Global Summit 2017. Oval has been featured in publications including TechCrunch, Business Insider, Bloomberg, and Forbes. Our video explaining how Oval Money works has been viewed over 1.5 million times.

Our momentum continues to grow with referral program and words of mouth.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Oval Money has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.