Hugosave, a digital tool for managing finances and savings with headquarters in Singapore, has secured US $4 million in pre-series A financing from 1982 Ventures, Woodside Holdings Investment Management, and a number of other corporate venture investors.
Hugosave was established in December 2019 by David Fergusson, Ben Davies, Braham Djidjelli, and Surya Tamada. Its automated online platform enables users to spend, save, and invest. Hugosave said that more than 40,000 individuals had subsequently joined the platform.
The startup’s services include a digital account with money pots for budgeting, a personal Visa debit card, and opportunities for buying and selling actual gold.
Users may also automatically round up their purchases made with the Hugosave card to the nearest dollar. Any further money spent will thereafter be converted by the app into gold, which will be kept in a gold vault.
The business will utilize the additional funding to increase its regional reach and diversify its product line.
“In the past 2.5 years, we’ve created a product, built a team, received licenses, gained customer traction, built a state-of-the-art data capture and analysis process, and built partnerships. This fundraising is another major milestone,” said Fergusson, who also serves as Hugosave’s CEO.
