London-based savings and investment platform Moneybox has raised £35 million in a Series D funding round. The new funding is expected to aid the brand in growing its customer base alongside introducing a slew of new financial planning services and will see the launch of ‘an enhanced investing proposition’. To date, Moneybox has garnered £95.1 million, including over 16,500 shareholders raising £7 million via one of Crowdcube's most popular campaigns of all time
Moneybox offers a host of financial services aimed at helping individuals save, invest, realise big-ticket purchases such as a home, and plan for retirement.
“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,” explained co-founder Ben Stanway. “By continuing to focus on the large and under-served mass market we believe we are on a path to creating the UK’s category-defining wealth platform.”
Now counting over 800,000 customers, accounting for some £2.9 billion in assets under assessment, a figure the company claims is growing at a rate greater than 100% year over year. Since announcing its Series C raise in July of 2020, the AUA number has continued its northward trend at Moneybox, more than tripling (+356%), while the AUA per customer has increased 107%, resulting in revenue growth of 340%.
“We were proud to lead the Series D funding round and this new investment is a testament 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,” commented Fidelity International Strategic Ventures’ Alokik Advani. “Moneybox is at a significant inflection point in its journey and this next chapter of growth will see them introduce new unique investment solutions helping to support millions as they save for the future.”