Playbook said to raise $6m in funding to help people improve their savings

Playbook, which is designed at helping young people better build their wealth, has reportedly scored $6m in its seed round.

The round was backed by Atomic, alongside other unnamed investors, according to a report from FinSMEs.

Its mobile app offers a step-by-step guidance on how to grow money and optimise taxes. Through the platform a user can see how tax optimisation impacts their wealth, create a financial plan to maximise tax advantages, put money into tax-advantaged accounts and automate growth through monthly transfers. Additionally, the app helps users track and update financial goals.

To start, the user simply must connect their bank account and Playbook will build plans to meet the specific financial goals, with the ability to easily make changes to the goals at any point.

Part of the plan to improve savings is boosting tax advantages. To help this, Playbook will plan and find out the earnings and tax opportunities being missed.

Earlier in the week, Cooper Banking, another FinTech attempting to help people become smarter with their money, closed a funding round. The FinTech is designed to boost financial literacy in teens through its banking mobile app. To support its mission, the company raised $13.3m in seed funding.

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