No great detail on the website, they just popped up on social media - paying for sponsored adsā¦
From their Twitter page
Invest. Be Positive. Create Change.
Invest from Ā£5 into a personal, positive portfolio to give your money the potential to grow and change the world.
Itās sounds like a Robo Advisor focusing on Socially Responsible Investment to me.
edit - more details on A pitch for the world in a broken elevator | by chickānātech | Medium
edit 2 - Tumelo is linked to, or owned by Hedge, see their Privacy policy:
LinkedIn has a bit more
https://www.linkedin.com/company/tumelo
Signed up because
Edit: the first word hasnāt endeared them to me
Yeah also signed up - check the competition and all thatā¦
Sounds like Tickr, jumping on the ESG bandwagon !
Hey folks
Really great to see you talking about us! (Weāve been doing a bit of Facebook testing for the past 8 weeks so I guess thatās where you found us?).
Weāre building a sustainable investing platform, yes, (weāll be an advisor & build portfolios of equities & bonds based on your risk level & values) but our focus is actually on giving investors a voice at their companies (because we all have a right to one, the powers that be just make it super difficult right now, so weāre trying to change that).
Iāve just created our own Discourse page which Iād love for you to join, plus we have a blog on Medium if you want to learn more. Weāll be releasing a closed beta in March so if youāre keen to try it out then I would love to hear your feedback!
Weāre literally just starting to find & grow our community so there isnāt much about us online. If you have any Qās then just ask me anytime
Georgia
p.s. @Rat_au_van do you mean the āoāhelloā? Our graphic designer used that once and it just stuck! We thought it was friendly but what are your thoughts?
Yes - we called ourselves Hedge when we first incorporated. Now called Tumelo but still need to change our name on Companies House. Waiting until the FCA process is over then will get straight to it as itās super confusing!
Yeah no worries, what does Tumelo mean, or whatās the story behind the name? ( If thereās one )
I think I saw something about it being bootstrapped. If you did, how was that?
Tumelo means āgoodā or āfaithā. At uni I was really involved in campaigning for Cambridge to invest their endowment more transparently & sustainably, so technically Iām from the environmental side first rather than financeā¦ so we wanted to find a name that emphasised purpose .
We didnāt really bootstrap: we built software for about 6 months (got some free office space and waitressed nights & weekends) but then we raised a āpre-seedā round about 6 months in, back in July, which allowed us to focus 100% & expand the dev team.
What do you think of the idea?
Cool, just Googleād this, South African, like Ubuntu.
Sounds kind of like bootstrapping it, not sure where the line is normally drawn though.
Sounds interesting. As I understand it Tumelo provides themed investments, with a activist element. Although not entirely sure how it all fits together, or how it will work. Probably need to see the see app first Do you have a video demo?
What do you think of the idea?
I donāt know about anyone else but this has always been an aspiration for me with regards to investing; driving positive change through ownership. As you said its something thats ripe for disruption and I was wondering if you had been looking at platforms like say.com that have integration with brokerages, thereby increasing their effectiveness and reach, or will you only focus on building the platform around your own investing/advisory service?
Not yet, but if people think it would be useful then we can start working on one!
@dk1 Yes! Weāve seen Say, really cool stuff and they are definitely thinking along the same lines as us. Iām not sure their angle is quite right though, at least our approach will be different - and aimed at people with less in-depth knowledge of shareholder rights etc.
We did start by looking at a stand alone shareholder engagement platform, but realised we needed investors to get the initial buy-in because most people donāt know what it means to be a shareholder in the first place (and fair enough because they make it so complicatedā¦). We needed the education & marketing, and platforms like HL werenāt going to engage people for us if we just plugged into them because itās more overhead. Hence why weāve built an investment platform, so that we have that control. Weāll start by engaging our own members and really understanding a) how they want to engage/have influence and b) how the portfolio companies respond. Because thatās also key, otherwise itās pointless.
As we learn we can build out a holistic engagement platform that connects all stakeholders to any company, maybe through plug ins to other brokers but that will depend on how people want to use it. We have a lot to learn over the next 6 months, thatās for sure, but itās really exciting because the whole system is begging to be changed or updated, itās so archaic and there is zero transparency!
Thanks for the reply, wish you the best of luck!
Iāve just tried out the Penfold Pensions x Tumelo integration today and itās excellent. I think Freetrade are really missing a trick here, but with Duncan joining Tumelo hopefully this gets considered again.
Which Duncan?
Duncan Leslie
Interesting.
Freetradeās (ex) Duncan!