From office attendance to app presence? UKTech News reports a successful tech raise of special relevance in a world of remote working and the changes brought about by the Covid-19 pandemic. For a lean and mean team like ours at Money&Co., simple digital meeting devices work very well – but this app may be a significant player in the office life of the future.
New smart employee app Blink has officially launched today. Blink has already raised £8.2million in capital, led by Paris and San Francisco based venture capital firm Partech, alongside a roster of high profile Angel Investors.
Over the past 15 months, Blink has been developed and deployed in partnership with leading organisations including Stagecoach, Domino’s and the NHS to empower and protect frontline and key workers inside their organisations.
The company, founded by CEO Sean Nolan, designed the app to empower key workers on the frontline. It provides them with a single app to access all important information and systems and the ability to connect with their colleagues.
For the past year, Blink has been partnering with frontline organisations to solve real-life problems for their workers. The first major rollout in January 2019 was for 22,000 employees at transport company Stagecoach.
Historical Performance And IFISA Process Guide
That figure is the result of over £23 million of loans facilitated on the site, as we bring individuals looking for a good return on capital together with carefully vetted small companies seeking funds for growth. Bear in mind that lenders’ capital is at risk. Read warnings on site before committing capital.
All loans on site are eligible to be held in a Money&Co. Innovative Finance Individual Savings Account (IFISA), up to the annual ISA limit of £20,000. Such loans offer lenders tax-free income. Our offering is an Innovative Finance ISA (IFISA) that can hold the peer-to-peer (P2P) business loans that Money&Co. facilitates. For the purposes of this article, the terms ISA and IFISA are interchangeable.
So here’s our guide to the process:
The ISA allowance for 2019/20 is unchanged from last tax year at £20,000, allowing a married couple to put £40,000 into a tax-free environment. Over three years, an investment of this scale in two Money&Co. Innovative Finance ISAs would generate £8,400 of income completely free of tax. We’re assuming a 7 per cent return, net of charges and free of tax here.
Once you have made your initial commitment, you might then consider diversifying – buying a spread of loans. To do this, you can go into the “loans for sale” market. All loans bought in this market also qualify for IFISA tax benefits.
Risk: Security, Access, Yield
Do consider not just the return, but the security and the ease of access to your investment. We write regularly about these three key factors. Here’s one of several earlier articles on security, access and yield.