# Akoni Hub

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/akoni-hub

- Industry: Software
- Headquarters: London, UK
- Website: www.akonihub.com
- Total disclosed funding: $0.8M
- Latest round: Seed (Nov 8, 2017)
- Investors on record: 2

## About

Akoni Hub Limited is a cash management platform that enables individuals and businesses to efficiently manage their cash savings across multiple banks, while maximizing interest earnings and ensuring protection under FSCS regulations.Founded in 2015, Akoni Hub Limited is headquartered in London, UK, and focuses on providing cash management solutions. The company has engaged in 4 deals, with its most recent deal occurring on December 8, 2021. In this deal, Stubben Edge Group Limited, a portfolio company of Dowgate Capital Limited, acquired Akoni for GBP 0.630 mn. The company has raised a total of GBP 0.630 mn to date, and its current valuation is GBP 5.529 mn.Akoni offers a comprehensive cash management platform designed to facilitate efficient management of cash savings across multiple banks. The core product enables users to access competitive interest rates from over 20+ banks, allowing individuals and businesses to earn interest on their deposits while ensuring FSCS protection. The platform features a savings planner that provides a unified view of all cash held, including both Akoni savings accounts and external accounts, thereby helping users to optimize their cash management strategies. By leveraging an algorithm-powered system, Akoni simplifies the process of selecting suitable savings accounts tailored to client needs, enhancing the overall user experience. Akoni serves a diverse clientele, including individual savers and businesses across various sectors, primarily within the United Kingdom and potentially other European markets.The revenue structure of Akoni is primarily driven by transaction fees associated with their cash management services, which encompass account openings and fund allocations to partner banks. Clients engage with the platform through a straightforward application process, wherein once approved, they can begin depositing funds into their chosen bank accounts. The platform generates revenue through a percentage of the savings interest earned by clients, creating a performance-based model that aligns the company’s interests with those of its users. While specific pricing plans are not disclosed, the service is geared toward maximizing clients' savings without additional costs, effectively enhancing their returns on cash deposits. The company’s approach is directed towards both individual consumers and businesses, ensuring a comprehensive solution for varied cash management needs.Following the acquisition by Stubben Edge Group Limited on December 8, 2021, the company aims to enhance its digital platform and integrate within an open banking ecosystem. The recent funding will support further development of their services and potentially allow the expansion into new markets. Specific plans include an exploration of opportunities within European markets to diversify their client base and increase market penetration.

## Funding rounds

- Seed, Nov 8, 2017, $0.8M — Salica Investments, Angel Academe

## Investors

- Salica Investments (https://capitalatlas.ai/funds/salica-investments) — Seed
- Angel Academe (https://capitalatlas.ai/funds/angel-academe) — Seed