BOCY Invests €6M in Wealthyhood

Bank of Cyprus is investing €6 mln for a 26.45% stake in Wealthyhood, developers of a youth-targeted personal investment app.

Wealthyhood Overview

Wealthyhood is a UK registered entity with 54 shareholders, including its main founders, Alexandros Christodoulakis and Konstantinos Faliagkas. The app focuses on empowering and guiding users to start building their wealth, regardless of their knowledge, experience or available capital, through a user-friendly and modern environment.

Key Features

Financial education through interactive lessons and daily market analyses
Savings Vaults, high-yield accounts with market-beating interest on uninvested cash balances
Investment in the largest and most innovative companies in the world from €1, with zero commissions and fractional shares
Autopilot function for automated saving and investment process

The app has three basic plans: Basic, which is free of charge; Plus, at €2.99 a month; and Gold, at €12.99 a month, suited to savvy wealth-builders.

Investment Objectives

The objective of the investment is to accelerate Wealthyhood’s penetration into the Cypriot market, and strengthen its capabilities for further expansion into the Greek and other markets.