Huddl, a digital investment platform headed up by former Blackrock COO Stephen Corliss and former employees of Mastercard, Deloitte and Freddie Mac, is launching in the U.S. in August. 

Huddl functions like a social network where investors can collaborate, pool their assets and gain access to products typically available to high-net-worth individuals. Customers can pool money with family and friends to invest with different firms, and it lets customers invest in private equity, corporate real estate and hedge funds. Investors also can pool money anonymously with groups of people.

The decision to launch the platform was based on a desire to create an investment product that’s open, accessible and meets the needs of younger customers, said Corliss, who is Huddl’s CEO. The platform also will include a savings account with a competitive 2.05% APY, the result of a partnership with Radius Bank. The partnership with Radius will function as a customer acquisition tool for Huddl, he noted.

According to  Chris Tremont, executive vice president of digital banking of Radius Bank, Huddl’s investment features will be available for Radius customers in a few months. Huddl’s offerings were added in response to customer demand for a wealth management product, he noted. Radius, a one-branch community bank in Boston with a nationwide digital presence, is no stranger to fintech partnerships and has worked with such companies as LevelUp, Prosper and Aspiration.

Daniel Kern, chief financial officer at TFC Financial Management, said Radius’ partnership with Huddl is a win for both companies, but expanding into fields like private equity and real estate could create challenges. “There are a wide variety of implementation challenges Radius and Huddl will likely face, including regulatory hurdles; the need to educate staff and clients; and operational integration,” he explained.

Huddl joins a chorus of other digital investment advisory firms including savings and investment features as part of their offerings, including Wealthfront, Betterment and Wealthsimple. Huddl was initially self-funded by the founders, with $2 million in seed funding to retain its independence during the earlier stage, said Corliss, but the company expects to be raising outside investment capital shortly as it moves into the next phase.