"NEW YORK and LONDON, June 29, 2020 – HearstLab, an investor in women-led startups, today announced its investment in London-based financial technology (fintech) company Akoni. This is the first investment for HearstLab’s U.K. location, which aims to close the gender gap in venture capital funding. The announcement was made by HearstLab Chairwoman Eve Burton and Akoni Chief Executive Officer Felicia Meyerowitz Singh and Chief Technology Officer Panos Savvas.
Akoni provides easy to use cash management tools for individuals and small and mid-size enterprises. The company has developed a range of features for personalizing cash solutions using multiple data sources and data science to enable multi-bank management and increasing returns on cash. Akoni works with a variety of U.K. financial institutions, including wealth managers, wealth platforms and charities.
“We are excited to announce that Akoni will be our first investment in the U.K. Their digital tools and customer-centric experience are unmatched, and we look forward to helping them continue to grow and innovate,” Burton said.
HearstLab works with female founders to build sustainable and highly scalable businesses. In addition to financial investment, the startups gain unrivalled access to the expertise within Hearst-owned Fitch Group, a global leader in financial information services, and Hearst across its U.S., U.K. and Netherlands operations. Startups will be given expertise in financial services and assistance with privacy and security; legal services; and branding, marketing, advertising and editorial support. They will also benefit from the guidance and support of HearstLab Scouts, women leaders across Hearst’s global businesses and Fitch. HearstLab has a full-time dedicated team assisting with UI/UX, DevOps engineering, data security, data science, business development, market research and recruiting."