London based personal finance app oval has raised €1.2m in Series A funding backed by Gruppo Intesa SanPaolo, b-ventures, DOCOMO Digital and Bertoldi Group Family Office. Oval aims to help users grow their savings in less time by teaching them to monitor spending habits and make saving virtually automatic.
There are several apps on the market that help you track your spending (Parity), save money (Pennies), or invest (Moneybox) using basic machine learning. Now an ambitious startup wants to do all three. Based out of London, new startup Oval (Apple, Android) will combine expense tracking, saving, and investing into one app, while also adding a social element by enabling its community of users to share tips and suggestions to one another. In other words, trying to harness the “collective intelligence” of both its platform and its users combined. Oval aims to help users grow their savings in less time by teaching them to monitor spending habits and make saving virtually automatic. The company has raised €1.2M in funding, backed by Italy’s Gruppo Intesa SanPaolo, b-ventures, an incubator from Japan’s DOCOMO Digital and Bertoldi Group Family Office .
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