Gumtree’s co-founder Simon Crookall has launched a new online investment platform.

InvestEngine offers Investment ISAs and general investment accounts, with a minimum investment of £2,000.

According to InvestEngine’s website, the firm uses an automated investment service that invests money passively in low-cost, index-tracking ETFs, which means they can charge the “industry competitive rate” of 0.45 percent per annum.

The firm’s focus appears to be on keeping costs low, stating on its website that it is “far cheaper and more reliable than a normal investment manager.”

It highlights tha...