Moneybox, a saving and investing app in the U.K., has secured £30 million ($37.6 million) in Series C funding and also announced a crowdfunding campaign to bring its customers on board. The VC round was led jointly by Eight Roads and CNP, with participation from Breega and existing investors. The new investments will help Moneybox “build on its product offering, invest in new technology and scale the team.”
Launched in 2016, the fintech company now has 120 employees and over 450,000 customers, who deposit a reported £100 million onto the platform every month.
The newest round was completed at double the valuation of the 2018 Series B and brings the total capital raised to £51.3 million. But the company isn’t done with funding—actually it’s launching a campaign on Crowdcube.
“We are also very excited to announce our first ever crowdfund, giving our community the chance to be a part of our journey,” said co-founder Ben Stanway. “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 U.K.”
Photo: Moneybox co-founders Ben Stanway and Charlie Mortimer. Courtesy of Moneybox.
Blogroll illustration: Li-Anne Dias