Moneybox, the award-winning digital wealth manager, has secured £35m in a Series D funding round, led by Fidelity International Strategic Ventures, a dedicated venture capital team at Fidelity International, alongside existing investors Oxford Capital, CNP and Breega, as well as new investor Polar Capital.
The investment brings the total amount of funds raised to date, to £95.1 million.
London-based Moneybox is on a mission to help people build wealth with confidence and provides a range of products and services across saving, investing, home-buying, and retirement, all within one easy-to-use app, supported by award-winning technology and customer support.
The funds will help build the Moneybox brand, grow its customer base, introduce financial planning services and launch an enhanced investing proposition focused on long-term wealth generation.
Since its launch in 2016, Moneybox has seen exponential growth. The platform currently supports 800k+ customers and has more than £2.9bn in assets under administration, growing by more than >100% YOY. Since its Series C fundraise in July 2020, AUA has more than tripled (+356 per cent), AUA per customer has increased by 107 per cent, and revenue has grown by 340 per cent.
In this time, the team has also doubled to around 300 people. A number of notable appointments have been made to bolster its leadership team including Laurel Powers-Freeling as Chair of the Board, Karen Kerrigan, formerly COO at Seedr, Cecilia Mourain, MD Moneybox Home-buying and Caroline Murphree, formerly Europe CEO at Wealthsimple, who will join next month.
Ben Stanway, co-founder of Moneybox, said: “Our mission is to help people build wealth with confidence so they can enjoy life today and tomorrow. This new round of investment enables us to create even better services to help our customers succeed across their home-buying, retirement, savings and investing missions.
“By continuing to focus on the large and under-served mass market we believe we are on a path to create the UK’s category-defining wealth platform. We celebrate this moment with deep gratitude for our amazing team, our loyal customers, and our supportive investors.”
Following the success of the first crowdfunding campaign in 2020, which welcomed 16,500 customer shareholders in less than 48hours, in early May 2022, Moneybox will once again offer its community the opportunity to share in its exciting growth journey alongside existing professional investors.
Pre-registration for the crowdfund will be announced in the coming weeks on the Moneybox website, social media channels, and the Crowdcube website.