We are pleased to announce that we’ve acquired the millennial-focused investing app, Goodments. Alongside welcoming Founder and CEO of Goodments Tom Culver to join the Douugh Management team as Head of Douugh Wealth.
This acquisition will accelerate Douugh’s development and broaden the depth of our planned ‘Wealth Jars’ feature to help our customers reach their saving goals faster, through investing commission-free in custom-built portfolios, before looking to launch fractionalized single share trading.
Andy Taylor, Founder & CEO said record low-interest rates that could potentially go negative, make it vital for Douugh to be able to offer its users a simple, low-cost way to invest and grow their money.
We have long spoken about investing at Douugh and how we envisioned this for our customers. It has always been important to us to offer portfolios within our ‘Wealth Jars’ feature that are both sustainable and ethical. Giving our customers more control over what is important to them, by offering the right portfolio without sacrificing their goals, needs, or values.
Our focus on wealth management and the acquisition of Goodments is to further support our mission and principles.
Launched in Australia in 2017, Goodments has become a leader in the responsible investing space having developed a customer-centric product that matches sustainability-minded people with investments that align to their values via a range of managed portfolios and fractionalized ETFs and single stocks like Tesla, Disney, and Amazon.
Tom Culver, Goodments Founder & CEO said joining the Douugh family was an incredibly exciting opportunity to join forces with one of Australia’s fastest-growing disruptive and most ambitious fintechs.
“This is an opportunity to form a fantastic partnership built on the shared principle of putting our customer’s values and needs at the centre of what we do, delivering high quality, accessible, personalized Wealth Solutions that fit our customer needs.
“Our ability to connect perfectly aligned investment options with Douugh’s banking solution will enable us to create a powerful ecosystem that can change how every individual, no matter their experience, thinks about managing and growing their money using smart, relevant, and disruptive technology.”
Goodments will be purchased in an all-scrip deal.
Our mission still remains to become a fully-fledged autonomous financial wellness platform with integrated banking AND investing.
With Goodments we are now closer than ever to offering a banking solution that will allow people to take control of their money and become financially independent.
For all our U.S. customers ‘Wealth Jars’ will be launching in the coming months.
In Australia, customers can sign up to Goodments now, just download and start using the app! Once we officially launch in Australia Goodments will morph into Douugh.
As always, we love to hear from you - got some ideas and suggestions, general feedback, or questions? Please email us at firstname.lastname@example.org.