Topia, the revolutionary new finance and lifestyle app that helps Millennials to master their money in order to achieve financial independence and retire early hits the App Store this week and is backed by a series of heavyweights from the finance and investment sector.
Topia is founded on the belief that everyone should make the most of life and is on a mission to reinvent how millennials view the timeline of their lives. Inspired by the FIRE movement (Financial Independence Retire Early), Topia encourages the adoption of high levels of savings by providing the tools, expertise and inspiration to help users understand that achieving financial independence is possible. This helps Millennials to have a clear and compelling reason to save more than the UK’s average monthly income saving of 7%.
Users of Topia save as much as 42% of their monthly income, over 5x the UK average, putting them well on their way to achieving financial independence literally decades before their official retirement age with the average Millennial user on track to retire between 35-45.
Now available for use in iOS devices (Android users will have to wait until 2022), Topia has been described as ‘revolutionising the way millennials engage with their finances’. Having secured a £180k seed round investment, and amassing pre-launch waiting list of over 1,500 people, expectations are running high.
However, with so many money management apps around, what makes Topia so unique? In addition to being the first app designed specifically to support the FIRE phenomenon, Topia has attracted some of the best minds in the industry to act as advisors to this exciting new start-up.
36 year old self-made millionaire Grant Sabatier is one of the best-known success stories of the FIRE movement, having retired at age 30 after spending five years building a net worth of $1.25 million while working in digital marketing. He is the international bestseller
William Todd is the co-founder of Nutmeg, an online investment management company based in London who was recently acquired by JP Morgan. William started Nutmeg because he was frustrated by the exclusivity and lack of transparency in the investment world.
Topia CEO, Logan Leckie, is a serial entrepreneur and business graduate, Logan founded his first business at 16, setting up a B2C platform for musicians. He has worked at a start-up as it raised an £800k seed round, as well as a stint at a global investment bank. Having embarked on his own FIRE journey, Logan was disillusioned with the products and services on offer, and felt they failed to engage users effectively.
“The current market offerings certainly help to automate small pockets of savings, which over time can build up, but they certainly won’t help you to retire early. What was missing, and Topia addresses, is that all-important ‘why’, a necessary pre-requisite to create engagement and with it a super-charged savings rate that has the potential to change your life. I had seen how adopting a FIRE mindset could transform my future and I wanted to develop an app which would help others to embark on the same journey – a future created on their terms,” explains Logan.
“I’m delighted that Grant and Nick have joined the Topia team as trusted advisors and I am certain their input be invaluable to our future growth and success in the industry,” adds Logan.
For more information visit www.topia-app.com.