Moneybox, the saving and investing app, today announced it has recently secured €33.07 million in Series C funding from existing investors including Eight Roads, and new investors Breega and CNP. London-based Moneybox also stated it now has €1.1 billion in assets under administration, and announces plans to bring customers closer to its growth journey through an upcoming crowdfunding campaign.
Moneybox is on a mission to help everyone save and invest for their future. Founded in 2015 and launched in 2016, the company has experienced rapid growth and now counts more than 450,000 customers and a team of 120 people. At launch, Moneybox offered users the chance to invest the spare change from daily card purchases into a Stocks & Shares ISA; it now offers a range of saving and investment products including Lifetime ISAs and Pensions. Customers can set money aside in the way that suits them best using round ups, regular deposits or one-off payments, whilst popular tools such as the Time Machine help them keep their savings on track.
Each week thousands of people open accounts with Moneybox, and together customers deposit more than €110 million onto the platform every month. With customer growth of about 121% year on year, Moneybox is currently growing faster than some of the biggest names in UK wealth management.
The Series C funding round was completed at double the valuation of the 2018 Series B funding round and takes total funds raised to date to €56.55 million. The fresh capital will help Moneybox build on its product offering, invest in new technology, scale the team, and further execute its mission of helping everyone save and invest for their future.
Working in conjunction with Crowdcube, Moneybox will soon offer its community the opportunity to share in its exciting growth journey alongside existing professional investors in its first ever crowdfunding round. Pre-registration for the crowdfund opens today, 17th July, on the Moneybox website, with the private crowdfunding round going live late July.
Ben Stanway, Co-founder of Moneybox stated: “We’re really pleased to have continued support from Eight Roads, and to welcome on board new investors CNP and Breega as we work to further execute on our mission of helping everyone save and invest for their future. Securing this funding enables us to continue to build the products, tools and technology to help people achieve their goals easily – whether it’s buying a house, saving for retirement or just a rainy day.”
He continued: “We are also very excited to announce our first ever crowdfund, giving our community the chance to be a part of our journey. We want to give everyone the opportunity to share and shape our future success and help us become one of the largest saving and investing platforms in the UK.”