Communion: Building Financial Buffer & Fixing Money Relationship
Communion, the fintech app founded by Daniel Hegarty, is on a mission to help people build a financial buffer against the world and fix their relationship with money. The app has recently raised £2.5m in a pre-seed funding round led by Target Global, with participation from investors Erin Lantz, Greg Marsh, Max Rofagha, and creative partners Uncommon Creative Studio. The launch of Communion comes at a time of great financial uncertainty, with rising interest rates, cost of living hikes, and pay freezes affecting many individuals.
According to Communion's own research, 94% of 18-40 year-olds have experienced money anxiety, with one in four worrying about money every day.
Additionally, half of the surveyed individuals believe they will never have enough money. Communion aims to provide the right conditions, tools, and support for people to take control of their money and build a financial buffer. Founder and CEO of Communion, Daniel Hegarty, states that the app was created to help individuals live life with more autonomy and less fear when it comes to money.
Unlike other finance apps, Communion offers a unique approach. It combines psychology and behavioral science to tackle underlying money anxiety and provides personalized wealth-building plans and access to a supportive community. Additionally, Communion's savings account offers competitive returns of up to 5.66%, with a unique top-up bonus feature for inviting friends to join the app. The app also aims to empower its members with financial autonomy, allowing them to ultimately gain control and confidence in their financial decisions.
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