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Bippit: A Financial advisor, for everyone

Bippit

Bippit is addressing the issue of financial inclusion. Their ground-breaking platform gives millions of young adults in the UK access to personalised, financial advice, helping them to improve their financial situation. Bippit is looking for introductions to investors and large-scale employers interested in delivering free financial advice to their workforce.

Our interview with Sam, the Founder of Bippit

Describe your mission in a sentence or two:

Bippit is making personalised financial advice automated and free at the point of engagement to help millions of people in the UK who are unable to access such services. If our users ever want to talk to a professional adviser as well, we've developed a revolutionary system to make that process cheaper, easier, and more efficient.

Who are your clients?

Our automated plans, and message-based advice is aimed at the so-called 'Advice Gap' in the UK, and the system is designed to help young adults under the age of 35 successfully navigate various life events and financial concerns as and when they come up.

What stage are you at in your business?

We're currently in Beta testing with live customers ahead of a public launch early in Q1 2020, and we're also fundraising at the moment to accelerate our growth and get free financial advice into the hands of more people.

What is your business model?

Our core belief is that personalised advice should be available to everyone, no matter what your circumstances, so our automated plans will always be free. However, when we connect our customers to professional advisors there needs to be a cost attached to the service, which is paid via subscription at £9.99 per month.

Compared to the traditional experience of visiting an office to meet an advisor, where fees are typically £150 per hour, it's easy to see that Bippit delivers a radically more efficient solution.

What is the vision for the company?

Our vision is to get personalised financial advice into the hands of a billion people worldwide, and help them know what to do, when to do it, and what products to use to improve their financial situation.

What does 2030 look like in your mind?

We see a future where you no longer have to worry about your finances. You just decide where you want to get to, and everything is optimised in the background to get you there as soon as possible. We'll effectively have Google Maps for money!

What other UK impactful start-up do you love and why?

We love the work that CoGo are doing at the moment to help consumers make more responsible and impactful decisions with their spending behaviour.

What’s next for your company?

Bippit is focused on solving the Advice Gap problem in the UK next year, but we have our sights set on expansion into continental europe. The problem we have at home with access to personalised financial advice, is a problem that exists around the world.

How can the SeedTribe community be involved in helping you scale your impact?

Like with any startup, we're operating on limited resources, so are always keen to build relationships with investors, but we're also building partnerships with large scale employers in the UK to deliver free financial advice to the workforce, so introductions to CEO's and HR managers can help us make that a reality.

If you want to contact Sam, send us an email and we will put you in touch.

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