Public Funding for Mintago Limited

Established as a start-up company in 2019, Mintago is a UK-based SME with an innovative, visionary team who sit at the intersection of HR tech and Fintech to provide employee financial wellbeing solutions that help employees lead financially happier and healthier lives. Currently, UK organisations are feeling the strain from poor employee financial wellbeing, with employers losing £15.2 billion each year resulting from worker stress, absenteeism, reduced productivity, and low staff-retention. CIPD reports that financial wellbeing is the least common area included in HR strategies, despite money worries affecting 47% of UK employees. Although around half of employers having a financial wellbeing policy in place, only 11% of employers actively focus on it as an overall HR and wellbeing strategy, despite financial distress greatly impacting wider employee wellbeing and workplace performance. In 2019 there were 22.4 million members of defined contribution occupational pension schemes; however, UK workers lost track of c.1.6 million workplace pensions, with £19.4 billion misplaced/forgotten savings in 2020 (ABI). To address these issues, Mintago have developed a novel financial wellbeing platform with an accompanying app to provide UK SME employees, via their employer, with bespoke financial wellbeing and pension insights, 'Journeys', and simple tools to improve their financial position and health, up-skilling employees and employers alike to maximise their financial wellbeing. Mintago are seeking loan funding for the development of an enhanced pensions platform, utilising live pensions data through API's to provide UK SME employees, via their employer, with access to unbiased, relevant financial insights, simple to use pension locator, consolidation/switching tools, and behavioural 'nudging' and gamification to improve their knowledge and financial standing through an easily accessible web-based platform and app.

Mintago is looking to transform the financial wellbeing market, through employers, by providing employees with equality of access to bespoke, relevant financial wellbeing insights and simple tools to improve their financial position - enabling better financial health and delivering cost-savings, long-term financial and pension planning and mental wellbeing benefits, realised by both employer and employee. Mintago's holistic approach to financial wellbeing will utilise today's technology, combining standalone financial applications and solutions into one interactive platform, overlaid by its predictive analytics and bespoke financial journeys mapping system, accessed via a smartphone/desktop platform, putting the user in control of their finances.