GoCompare co-founder Kevin Hughes mentors Wealthify

Kevin Hughes, a co-founder and former marketing director of price comparison giant GoCompare, has become a mentor to fintech start-up Wealthify.

He’s already invested an undisclosed sum in the business, which is in the process of raising £5 million Series-A funding to help expand the product and acquire more customers.

Founded in 2014 by Dr Richard Theo and Michelle Pearce, Wealthify is an affordable and easy-to-use online investment service. It requires no prior investment knowledge or experience, and is open to anyone.

The business raised £3 million when it launched in April 2016, including £1.8 million from a crowdfunding campaign that was supported by more than 760 shareholders.

Richard Theo, CEO of Wealthify, said his company is looking to streamline the investment market and that Kevin is helping to make this possible through his industry experience.

“Our ambition is to make Wealthify a major savings and investment brand and to democratise investing by making it affordable and accessible to everyone,” he said.

“Having Kevin supporting us is a massive advantage. As a founder at GoCompare, Kevin has proven that he knows how to develop a fledgling financial services brand and make it an enormous success.”

Hughes added: “I have been working with Wealthify’s senior management team since early 2017. Right from the start, I’ve been hugely impressed with both the team and the technology.

“I love the concept of creating an investment service for the mass market – one that enables literally anyone to benefit from investing returns, as opposed to just the very wealthy.”