This Startup Launched A Wealth-Building Platform For Young UK Investors

Many young investors in the UK find it difficult to prioritise building and managing wealth. A recent survey by Invessed found that 42% are uncomfortable with basic investing principles, and 47% save or invest little of their income.

This lack of engagement extends to financial monitoring, with 61% not regularly checking their portfolios. To add to that, 51% feel they have little or no control over their finances.


Barriers To Investing


Young investors face several obstacles:

Lack of Financial Knowledge: Many do not understand basic investment concepts, making it hard to start or sustain investments.

High Fees: Over half avoid seeking professional advice due to the costs associated with traditional financial services.

Outdated Practices: Many find the existing financial services outdated and not aligned with their digital preferences.


Belong is a new wealth-building platform that now is available to young investors in the UK. They’re intending to open up the way for opportunities, that more people can make long-term investments in.

Belong provides stocks and shares individual savings accounts (or ISAs) and General Investment Accounts (or GIAs), supported by a Future Wealth Simulator. This tool helps users invest in six different index funds, including MSCI World, S&P 500, MSCI World ESG, FTSE All World Climate, and UK Corporate Bond.


How Belong Works


Belong’s platform allows individuals to start investing with a minimum of £1,000. The Future Wealth Simulator helps project investment growth and shows the benefits of starting early. The company promotes long-term investing, encouraging young people to begin early and take advantage of compounding over time.


Features Of The Platform


Future Wealth Simulator: This tool helps project investment growth and shows the benefits of starting early.

Boost Loan: A five-year amortising loan option allows more money to be invested upfront, magnifying the effect of compounding. The loan has a fixed interest rate between 5-6%, and can be paid back in monthly installments.

Index Fund Options: Users can invest in different index funds, like MSCI World and S&P 500, which provide diverse investment opportunities.


What About Investment Barriers?


Co-founder and COO Samantha Rosenberg explains that many young people struggle to start investing due to a lack of confidence or feeling they don’t have enough cash. Belong removes these barriers by providing tools and support to help users take a long-term view on investing.

Rosenberg states, “Belong is changing this by encouraging young people to get started earlier, with more, and tackling the blockers that stop us from taking a long-term perspective on investing.”


Support And Funding


Belong’s market entry has been supported by a £2.95 million pre-seed funding round led by Octopus Ventures, with additional backing from angel investors such as Gautham Radhakrishnan, Ricky Knox, and Nutmeg co-founder William Todd.


Joining The Movement


CEO Avion Gray, a former product chief for Fiserv’s First Data Corporation, co-founded Belong with Rosenberg in 2021. Gray spoke on the fact that the financial industry often separates wealth management and lending, and Belong integrates these elements to provide a comprehensive service. Gray describes this integration as “a tremendous challenge, but one that came with valuable insights and learning.”

Belong encourages users to join a waitlist on its website. The company plans to offer a suite of embedded financial products and partner offers to maximise the value of future wealth. Rosenberg adds, “We are embarking on a lifelong journey with our customers, engaging them while they are younger and then serving them as their needs evolve.”


Benefits Of Belong


Early Investment Encouragement: Belong motivates young people to start investing early, helping them build wealth over time.

Integrated Financial Services: The platform combines investment and lending, providing a holistic approach to wealth management.

User Engagement: Belong engages users early and supports them as their financial needs change over time.