Digital wealth manager Moneybox raises £35m

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

The round was led by Fidelity International Strategic Ventures, a dedicated venture capital team at Fidelity International, alongside existing investors as well as new investor Polar Capital.

Moneybox said it will use the capital to grow its brand, grow its customer base, introduce financial planning services, and launch an enhanced investing proposition focused on long-term wealth generation.

The company, launched in 2016, said its platform currently supports 800k customers and that it has more than £2.9 billion in assets under administration.

This latest investment brings the total amount of funds raised my Moneybox to date to £95.1 million.

“We were proud to lead the Series D funding round and this new investment is testament to the confidence of those closest to the Moneybox business,” said Alokik Advani, managing partner at Fidelity International Strategic Ventures. “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.”

He added: “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.”

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