Portify said to collect £1.3m in funding led by Kindred, Entrepreneur First

Personal finance app Portify has reportedly scored £1.3m in its Seed stage funding round.

The capital injection was led by Kindred Capital and Entrepreneur First, with participation also coming from a number of angels, according to various reports in the media.

London-based Portify is a mobile-based solution which gives users tools to manage all their finances in a single location. Through the app, a user is able to control and budget their money for tax and savings, as well as earn rewards.

All of the user’s financial accounts can be linked to the app, and the consumer is able to better view their transactions, cashflow, savings and insurance. Through the app, discounts and rewards can be redeemed for a range of other businesses including Amazon, Spotify, Argos, Café Nero and TransferWise, among others.

With this new line of funding, the company will look to expand its operations and deploy new services for its app, such as fair financing, the reports state.

Earlier in the year, Kindred Capital took part in the $3.78m seed round of fellow financial wellness platform Bloom Credit. The company uses credit analysis, AI, machine learning, and human interventions to provide consumers with credit-building insights to help strengthen their credit health and financial wellbeing.

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