£ 35 million of Series D falls into Moneybox


Digital wealth manager Moneybox secured £ 35 million in a Series D funding round.

In view of a second crowdfunding campaign, the assets under administration of the London company are approaching 3 billion pounds, having more than doubled in the last 12 months.

The funding round was led by Fidelity International Strategic Ventures, a dedicated venture capital team from Fidelity International, together with existing investors and the new investor Polar Capital.

The investment brings the total amount of funds raised to date to £ 95.1 million.

Moneybox’s mission is to help people create wealth with products through saving, investing, buying a home and retirement, all accessible through its app.

Since its launch in 2016, Moneybox has seen exponential growth. The platform currently supports over 800,000 clients and has over £ 2.9 billion of assets under administration.

Since the Series C fundraiser in July 2020, the AUA has more than tripled (+ 356%), the AUA per client has increased by 107%, and revenue has increased by 340%.

In this time, the team has also doubled to around 300 people. Numerous major appointments have been made to strengthen its leadership team, including Laurel Powers-Freeling as chairman of the board, Karen Kerrigan, former COO of Seedrs, Cecilia Mourain, MD Moneybox home-buying, and Caroline Murphree, former CEO of Wealthsimple Europe. , which will join next month.

Laurel Powers-Freeling (pictured), president of Moneybox, said: “Without a doubt, it is a very different market right now than it was a year or two ago and perhaps it has never been more important for consumers to be supported in taking positive financial decisions that can help them build wealth over the course of their life.

“Moneybox has the potential to lead a revolution in how everyone engages with their financial lives and their opportunity to create wealth for their future. The full range of products is designed to help people succeed in the long term. , offering the tools and information they need to save and invest confidently in what matters to them in life. “

SysGroup acquires the Edinburgh firm as merger and acquisition activities increase

Following the success of its first crowdfunding campaign in 2020 – which welcomed 16,500 customer shareholders in less than 48 hours – at the beginning of May 2022 Moneybox will once again offer its community the opportunity to share its exciting journey of growth with existing professional investors.

Pre-registration for crowdfunding will be announced in the coming weeks on the Moneybox website, social media channels and Crowdcube website.

Alokik Advani, managing partner of Fidelity International Strategic Ventures, added: “We were proud to lead the Series D funding round and this new investment testifies to the confidence of those closest to the Moneybox business.

“Since our first investment in the Series B funding round, we have been extremely pleased with the company’s execution, clear revenue model, product innovation and diversification.

“Moneybox is at a significant turning point in its journey and this next chapter of growth will see them introduce unique new investment solutions that help support millions of people while saving for the future.”

£ 35 million of Series D falls into Moneybox

Source link £ 35 million of Series D falls into Moneybox

Back to top button