tickr Secures $3.4M to Support Impact Investing | ada ventures

Tickr Secures £2.5 Million Funding to Expand Impact Investing Platform

Tickr, a financial application geared towards U.K. consumers, has successfully raised £2.5 million (equivalent to $3.4 million) in a funding round. Ada Ventures, a venture capital firm specializing in “impact” focused startups, spearheaded the investment.

Funding Allocation and Expansion Plans

The newly acquired capital will be strategically allocated to several key areas. These include ongoing product development, growth of the user base, and future expansion into additional European markets beyond the current U.K. presence.

Platform Features and Revenue Model

Tickr distinguishes itself by enabling users to align their investments with their values concerning society and the environment. Beyond investing, the platform facilitates spending through partnerships with companies committed to positive impact.

Furthermore, users can mitigate their carbon footprint via a subscription service. The core revenue model consists of a £1 monthly fee per customer, supplemented by a 0.30% charge on assets exceeding £3,000.

Additional offerings, such as carbon offset programs, are available as separate subscriptions based on the chosen tier.

User Growth and Demographics

The startup reports nearing 100,000 users within the U.K. A significant portion of this user base comprises millennials, with 90% reportedly being first-time investors.

These new investors are, on average, contributing £250 per month to their investments.

Competitive Landscape and Unique Selling Proposition

Tickr is positioned not as a rapid trading application, but as a tool for long-term wealth building through diversified investments in high-impact companies. While competitors like MoneyBox exist, Tickr emphasizes its “100% pure impact focus” as a key differentiator.

Given that a large percentage of Europeans do not currently participate in market investments, Tickr identifies a substantial opportunity for growth.

Founders' Background and Motivation

Tom McGillycuddy and Matt Latham, the founders of Tickr, bring eight years of experience in investment management. However, they express disillusionment with the industry’s complexities, high costs, and lack of consideration for social and environmental causes.

McGillycuddy explained in an interview that a critical realization was the absence of impact assessment in investment decisions, with returns being the sole focus.

Having come from Wigan and Liverpool, they were often the first in their families to be exposed to the world of investment, and felt the existing system was inequitable. This led them to transition into impact investing and ultimately launch Tickr in 2018.