Hapi
An investment pot for your children
Funding stage: Seed
What Hapi does
For most individuals, saving and investing towards their children’s future is complicated, confusing, and expensive. Between rigid investment schemes, tax rules, and inaccessible financial advisers, families struggle to execute intergenerational transfers of wealth as efficiently as possible.
Hapi’s aim is to empower every family to build financial freedom for their children and transfer wealth to the next generation in the most seamless, tax-efficient way possible. To do this, the team’s first product is a wealth management app that allows parents to set up investment accounts on behalf of their child, obtain financial planning advice at every step of the child’s development, and, importantly, enable other people—relatives, friends, and more—to continuously contribute to discrete financial milestones in the child’s future.
Why we like it
The UK is set to experience intergenerational wealth transfer on a scale never seen before, with over £5.5 trillion to pass between generations over the next 30 years*.
What sets Hapi apart, is by wrapping a complex investment and tax optimisation solution in an easy to use package, it’s appealing both to users’ wants (giving gifts to young relatives) and needs (saving for a child’s future). By engaging at such an early stage, Hapi aims to build a suite of financial services for the different stages of a child’s life and will be embedded in its customers’ lives for decades, much like traditional banks. By allowing other relatives to contribute, Hapi can build an enviably sticky relationship with the extended family unit too. In doing so, it stands to create a product of scale that creates and returns significant value.
* Passing On the Pounds – Kings Court Trust, 2021
What our fund managers say
“As younger generations come of age, traditional firms have struggled to support not only the younger family members of existing clients but also a new crop of parents and family members seeking advice and investment solutions for their children. Hapi aims to fix this problem. ”
– Zihao Xu – Principal
Who are we backing?
Youssef Darwich – Co-founder, CEO. Youssef has 10 years of experience in financial services and was the second employee at Tide – the leading SME challenger bank. Before starting the Hapi journey he led the product efforts for Octopus Wealth.
Sjonni Ísaksson – Co-founder, CTO. Sjonni has a background in machine learning and financial engineering. Before setting out to build Hapi he worked as an engineer for Samsung and Eigen Technologies.
See more on Hapi’s website here.