London’s new fintech Quirk picks £300K seed funding, offers tailored financial advice to young professionals


When it comes to money management, there is no single right approach. What works for one might not work for others. That’s why personalisation is significant when it comes to financing

Raised £300,000 pre-seed funding

Based out of London, Quirk uses unique personality testing to offer advice to young professionals The fintech company has recently raised £300,000 in pre-seed funding from SFC Capital and angel investors. 

The funding will be used to grow its team, expand its product offering, and fuel its broader mission to build financial freedom for everyone.

Unique personality test

Founded by Nikos Melachrinos and Nafeesa Jafferjee, Quirk offers financial advice tailored to individual user needs through a unique personality test. As per the company, the personality test is based on well-accepted psychological principles such as the “big five” personality traits – to understand users in detail and deliver personalised advice.

According to the company, men are three times more likely than women to enjoy buying expensive products to impress others, and that people who score high in neuroticism/emotionality tend to make more money, but will also save less.

Quirk’s goal is to help young people improve their knowledge and understanding of their money from a new perspective: “There is no ‘one size fits all’ answer when it comes to managing your finances. What should I do with my savings? What’s the difference between good debt and bad? A lot of young people we talked to felt there was a lot of information out there but it lacked context on their financial situation and advice on what tangible actions they should take.” said Nafeesa Jafferjee, Co-Founder and Chief of Product at Quirk.

With support from expert psychologists, Quirk uses the latest behavioural research to deliver a personalised product experience with educational content and insights about users’ spending habits. 

10,000 people have taken test

The platform also delivers various functionality from connecting a user’s different bank accounts to tracking subscriptions and setting up “spending goals”. 

As per the company’s claims, more than 10,000 people have taken Quirk’s “money personality test” since its launch in April last year, with an average rating of 4.5/5 for accuracy from 5,000 reviews and 86% of respondents saying it described them accurately. 

Public launch in March 2021

At present, Quirk currently has more than 1,000 beta users using the app, with a further 5,000 people on the waiting list. Both iOS and Android versions are available for beta testers through the Quirk website, and the apps will launch publicly on app stores in March 2021. 

Nikos Melachrinos, Co-Founder & CEO, said: “With the wealth of data and intelligence now available to people, nobody should be left feeling vulnerable or guilty when it comes to managing their money. Nor should financial services providers profit from vulnerable users by monetising bad decisions or benefiting from a lack of transparency – which remains a key revenue driver for many, despite tighter regulation. In these uncertain economic times, it has been even easier to encounter sudden financial difficulties, so having a better understanding of your money and personal finance is more important than ever.”  

 Ed Stevenson, Investment Executive at SFC Capital, said: “Financial planning has become more important than ever, with the cost of living and asset prices skyrocketing. We were impressed by the Quirk team’s ability to design a product that would appeal to Millennials and Gen Z, and ultimately help put them on a path to financial independence. Users gain control over their personal finances in a simple, fun, and engaging way, all the way from their first pound in the bank through to retirement and beyond.”