Aussie Fintech Upworth Secures $1 Million in Funding and Unveils Innovative Money Management Solution for Consumers

Sydney, New South Wales, 14/11/2023 — Upworth, an emerging Australian fintech company, has announced the successful completion of its first funding round, raising a total of $1 million in capital from leading business angel investors and entrepreneurs.

Aiming to democratise money management for all, Upworth is also launching its free consumer product to the public, allowing every Australian to take control of their financial future.

Its 3 co-founders Alexandre Chavotier (CEO), Carlos Rios (CTO) and Maxime Chaury (COO & CMO) bring together their experience in the fields of technology, finance and consumer services to change the way we all manage our wealth.

“We are proud to bring Upworth to the world, starting with Australia, providing individuals with powerful tools to achieve financial independence,” said Alexandre Chavotier, CEO of Upworth and ex leader at McKinsey & AI firm Quantum Black in Sydney.

Key features of Upworth include:

– A dashboard where users can track all of their assets and liabilities in one place (bank accounts, investment accounts, superannuation funds, real estate, cryptocurrencies, mortgages, personal loans and alternative assets). The solution gives users free access to 170,000 securities across 70+ global exchanges, and the ability to see the breakdown and evolution of their wealth.

– A control tower leveraging open banking and AI to share unique insights and help consumers grow their wealth. It includes a mortgage refinancing module enabling anyone to see in 60 seconds if they can save money on their loans.
– A digital platform for consumers to access in a simple and efficient way to financial products that fit their needs, starting with home loans. Upworth is an authorised credit representative (ACR) in Australia, working with a panel of 30+ lenders (including ANZ, Westpac, NAB, Bankwest…).

The team is also working on new tools that should be available to users from 2024, notably a self-serve financial roadmap to achieve retirement goals, a fee scanner to identify how to reduce financial costs and many more premium features.

Operating in a highly regulated and sensitive space, Upworth has doubled down on putting security and privacy at the core of its activities. All customer data is stored in Australia, data exchanges are subject to AES-256 military grade encryption protocols, and Upworth meets Australia’s stringent open banking security and privacy requirements (including Australian Consumer Data Rights legislation).

Committed to contributing to financial literacy, Upworth is building a knowledge base around personal finance (Upworth Hive) and started the podcast Upworth Talks in collaboration with personal finance and investment experts.

Their product is now available, and interested consumers can sign up for a free account at https://upworth.com.au/.