WealthKernel partners with Kaldi to turn cashback into investments

By Vriti Gothi

WealthKernel has partnered with Kaldi, a savings and investment app that converts cashback from everyday shopping into investment portfolios, to redefine how consumers approach wealth-building by integrating investment opportunities seamlessly into everyday transactions.

The partnership comes against the backdrop of a pressing need to address low levels of financial literacy in the UK. Recent research from Santander UK shows that 79% of people surveyed have never created a budget, 76% have never paid a bill, and 77% have not set aside funds for unexpected expenses. Only one in four respondents received any form of financial education at school, leaving millions without the basic tools to manage their money effectively.

Kaldi’s mission is to simplify personal finance and make wealth creation more accessible. By automatically investing cashback rewards into savings or investment products, the platform removes complexity and financial jargon, empowering everyday consumers to start building wealth without changing their daily shopping habits.

Under the agreement, Kaldi will leverage WealthKernel’s core infrastructure services, including onboarding, custody, and trading APIs, alongside its full suite of account wrappers – GIA, ISA, and SIPP. This will enable Kaldi to deliver a secure, compliant, and scalable investing experience, giving customers frictionless access to low-cost money market and index funds.

The model reflects a growing industry trend to embed investments earlier in the customer journey, linking wealth creation with checkout behaviour. This approach allows consumers to shop without undermining their financial goals, while providing businesses with opportunities to deepen customer relationships and increase wallet share over time.

Karan Shanmugarajah, CEO of WealthKernel, said, “Kaldi’s approach towards investing is one of a kind. We’re seeing a rise in the number of businesses moving from traditional budgeting tools to passive wealth-building solutions, making financial wellbeing less complex for everyday investors. We are delighted to have Kaldi onboard.”

Mark Burges Watson, Co-founder of Kaldi, said, “WealthKernel’s digital infrastructure has allowed us to focus on what matters – turning everyday retail rewards into real investments. Their API-first platform powers Kaldi’s seamless journey from retail checkout to investment portfolio, giving customers secure, hassle-free access to low-cost money market and index funds. Together, we are delivering a first-of-its-kind solution to the UK public.”