Kaldi partners with WealthKernel to turn everyday cashback into investments
New fintech app partnership to redefine financial wellbeing for everyday investors
WealthKernel, a digital investing infrastructure provider, today announces a new partnership with Kaldi, a savings and investment app that converts cashbacks from everyday shopping into investments.
New research from Santander UK has revealed that there are significant gaps in the understanding of money management. Out of 2,000 people surveyed, 79% have never created a budget, 76% have never paid a bill, and 77% have not set aside funds for unexpected expenses. Just one in four reported receiving any financial education at school, leaving millions without essential financial literacy.
Kaldi is a UK-based fintech app that aims to address this issue by simplifying how money works. Through its platform, users can automatically invest or save their cashback rewards, making wealth-building more accessible and jargon-free.
This partnership enables Kaldi to use WealthKernel’s core infrastructure services, including onboarding, custody and trading API, to power their platform. The company can also make use of the GIA, ISA and SIPP account wrappers and offer a full suite of account wrappers to its customers.
Investments are now being embedded much earlier in the customer journey with companies like Kaldi recognising that wealth and savings habits are strongly connected to checkout behaviours, and that consumers can make purchases without penalty to their financial goals. For businesses, these models help them move beyond one-off purchases and increase their wallet share over time.
Karan Shanmugarajah, CEO of WealthKernel says,
Kaldi’s approach towards investing is one of a kind. We’re seeing a rise in the number of businesses that are moving from traditional budgeting tools to passive wealth-building while making financial wellbeing less complex for everyday investors. We are delighted to have Kaldi onboard.
Mark Burges Watson, Co-founder of Kaldi says,
WealthKernel’s digital infrastructure has allowed us to focus on what matters - turning everyday retail rewards into real investments. Their API-first platform powers Kaldi’s seamless journey from retail checkout to investment portfolio, giving customers secure, hassle-free access to low-cost money-market and index funds, to deliver a first-of-its-kind solution to the UK public.
Recently, WealthKernel announced that it had partnered with Round Treasury to help businesses safeguard their treasury and manage finances.
