Sencillo, a fintech platform that aims to help parents plan, fund and manage the expenses associated with their children’s education, has secured a £350,000 investment.
The company cited figures putting the average spending of parents for their children’s education at between £3,600 and £15,000 a year, rising significantly when it comes to independent schooling and university.
Sencillo claims its platform can help, offering parents tools including a digital calculator to visualise the cost of their child’s education, allocation of savings and contributions to an education pool of money and access to tailored financing solutions for immediate costs.
“Education is one of the biggest investments any parent will make. Yet for most, the process is fragmented, confusing, and stressful,” said Sencillo founder and chief executive Adam Amos.
“Add in challenges such as the rising cost of childcare, VAT on private school fees, and the growing accessibility gap for children with Special Educational Needs and Disabilities; it can feel like an impossible journey to navigate.
“We believe every parent should be able to make informed, confident decisions about their child’s education.”
The investment was led by Fuel Ventures with participation from angel investors.
“Adam’s vision for helping parents plan and fund education in a smarter, more accessible way is exactly the kind of ambitious thinking we look for at Fuel,” said Mark Pearson, founder of Fuel Ventures.
“Sencillo is tackling real challenges within the education sector that affect millions of families across the UK and we’re proud to back Sencillo at this early stage.”
