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Security Type
Convertible Note
Min Investment
Boston, MA
Offering Date
October 07, 2021
Expected Close Date
April 06, 2022
Target Raise
Security Price

Company Description

Envel uses the power of artificial intelligence to automate budgeting, savings, and soon investments in real-time.

Key Deal Facts

Unique patent-pending autopilot functionality to improve your financial fitness and automate your budgeting, savings, and investments.
Envel is looking at a +$50 billion market, made up of about 63 million underserved adults, primarily between the ages of 18 and 35.
10,000+ users since January 2021, community-led, founded at Harvard, pre-seed funding from MIT Sandbox program.

Management Team / Advisory Board Bios

Craig Bond , Executive Chairman
Craig is a former CEO of large international Retail and Business Banks ( Barclays Africa and Standard Bank Africa). During his career he has successfully established and run two Private Banks as well as a Corporate and Investment Banking advisory business in Beijing, China. During his early career in card and payments, Craig ran large Visa, Mastercard and American Express issuing and merchant acquiring businesses, was a member of Mastercard Global Operating Committee and Chairman of Mastercard South Asia, Middle East and Africa Board. Craig leads the Envel business in partnership with founder Steve le Roux and the talented Envel Executive team.

Steve Le Roux, Founder & CEO
Steve is a visionary, innovator and Fintech Entrepreneur with 2 exits and has been successful leading game changing innovation within Gov, Fintech, NGOs and FTSE 100. ProfGC (Harvard), Fintech (Oxford SBS).

Matthew Armandi, CFO
Matthew was the CFO of Aristotle International and Predictit, one of only 2 exchanges allowed by the CFTC in the US offering binary options on political outcomes, when it launched in 2014 and oversaw its growth through 2018. Matthew also has an extensive career in public accounting, most recently with KPMG, auditing such clients as the CFTC, the Pentagon Federal Credit Union, and the Department of Homeland Security. Matt has a CPA and with a BS in Accounting and MIS.

Alwyn Van Wyk, CTO
Alwyn is qualified as and has more than 20 years experience in Software Engineering as a Developer, Systems Analyst, Project Manager, Scrum Master, Agile Evangelist, Solutions Architect, and Head of a Software Development office focused on Mobile development. He is also the Founder of Younglings, a South African non-profit organization focused on providing opportunities to youth from underserved communities.
Amount Raised : $581,093
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Security Description

A convertible security is a security that can be converted into another security, typically equity in the next round of financing.

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