WealthTech Moneybox raises £30m

Savings and investing app Moneybox has secured £30 million in funding.

The FinTech said the Series C funding round takes the total amount of investment to date to £51.3 million.

The company will use the funding round, led by existing investors including Eight Roads, and new investors Breega and CNP to fuel its expansion.

The digital wealth management company, which was launched in 2016, now has over £1 billion in assets under administration for 450,000 customers, with that figure increasing by around £100 million per month.

At launch, Moneybox offered users the chance to invest the spare change from daily card purchases into a Stocks & Shares ISA and has progressed to a range of saving and investment products including Lifetime ISAs and Pensions.

The company will launch its first crowdfunding round on Crowdcube, with pre-registration lists opening today.

Ben Stanway, Co-founder of Moneybox said: “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.

He added: “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.”

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