Multipl is a financial application platform that enables users to invest their entire budget—including spending for needs and wants—into commission-free, personalized mutual funds before making purchases. This approach helps individuals maximize their savings and investment potential while providing instant discounts from partner brands, addressing the challenge of low interest rates on traditional savings.
Funding
$1.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
MGFounders
Product
Problem
Traditional budgeting methods often separate spending and saving, limiting the potential for investment gains on funds allocated for immediate needs and wants. Low interest rates on savings accounts and the temptation of debt-based spending further erode financial well-being.
Solution
Multipl offers a "spendvesting" platform that integrates investment with everyday spending, allowing users to invest their entire budget in personalized, commission-free mutual funds before making purchases. The platform enables users to plan and save for both expected and spontaneous purchases through short-term investments. Users benefit from both investment returns and contributions from partner brands, maximizing savings and providing instant discounts. By investing funds earmarked for spending, users can earn returns while still accessing their money for planned expenses, avoiding debt traps and low-interest savings options.
Target Audience
The primary target audience includes Gen X, Y, and Z individuals seeking to optimize their spending and investment habits, avoid debt, and achieve financial goals through integrated planning.
Features
- Commission-free investment in personalized mutual fund portfolios tailored to individual risk profiles and spending goals.
- Access to over 70 partner brands across 20+ categories, providing discounts and contributions on purchases.
- "Spendvesting" approach allows investment of funds allocated for both needs and wants.
- Goal-based investment planning for both planned and unplanned expenses.
- No lock-in period, providing users with complete flexibility to withdraw funds or switch brands at any time.
- Automatic portfolio rebalancing to maintain desired risk levels in response to market fluctuations.
- Rewards system with challenges, levels, and prizes, including cashback and exclusive brand offers.