New fund aims to raise £20m, disrupt markets and end the poverty premium in 10 years
We Are Digital has been selected to be part of a new £20 million investment fund that aims to provide alternative services to millions of people on low incomes. As part of the programme, We Are Digital will work with Wayra UK and Telefónica Open Future UK to help people to manage their finances, find the best deals and provide training for financial management.
Around fourteen million people live in poverty in the UK, more than one in five of the population. The fund aims to help those that are struggling to face the poverty premium – having to pay more for essential goods and services, such as their energy bills, for credit or essential needs like food.
One of five start-ups announced to receive support from Wayra UK, We Are Digital will work with these companies to eliminate the poverty premium within 10 years.
Matthew Adam, CEO of We Are Digital, commented: “The poverty premium is an injustice that is a sign of market failure and something we urgently need to address. With levels of household debt rising, this problem is only going to worsen and we have a social responsibility to address it. The Wayra UK fund is an important first step and we are excited to work with the fund to level the playing field.”
News Archives
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Digital and financial inclusion key to battling poverty premium, says We Are Digital
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We Are Digital Secures £1.5 Million to Bridge the Digital and Financial divides
18.06.19
In a massive boost to our ongoing expansion plans, we have secured £1.5 million in funding, which will be used to hire key staff and make technology upgrades that will allow us to scale our operations and impact. We work … Read more
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Q&A: Kathy Valdes, managing director, Digital Unite
27.07.18
Q: Can you tell us about yourself and your role? A: I’ve worked with Digital Unite for nearly ten years. My current role is managing director. Previously, I worked with housing providers and charities to help provide solutions for … Read more
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Nationwide meets with We Are Digital to discuss digital inclusion
27.07.18
Over the past month, Nesta has been busy introducing grant winners of the Inclusive Economy Partnership (IEP) to business and civil society partners. We Are Digital, as one of the companies to receive backing from the IEP, was introduced to … Read more
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