Moneyhub secures $18m investment to fuel expansion
Moneyhub, the Bristol-based Open Finance data, intelligence and payments platform, has announced an $18 million funding round, its largest to date.
Moneyhub’s clients include Mercer, Aon, Nationwide and Standard Life
Leading the investment is UK entrepreneur and innovator Sir Peter Wood, founder of insurance disruptors Direct Line and Esure.
Wood’s investment is via a newly formed investment vehicle, SPWOne. The funding is intended to aid Moneyhub’s expansion into the wealth, insurance and retail sectors, as well as extend its European presence.
This latest funding builds on a previous undisclosed investment round in 2018 which included Nationwide Building Society Ventures. Notably, all initial investors have participated again in this latest round.
In the UK, Moneyhub’s clients include Mercer, Aon, Nationwide and Standard Life.
The Moneyhub platform provides Open Banking and Open Finance data connections, intelligence and payment solutions through APIs and white-label products.
Sir Peter Wood said: “Open Finance is a permanent technological revolution, fundamentally changing the way businesses interact with their customers.
“I believe Moneyhub is an outstanding innovator led by a strong management team and is well positioned to be a global leader in the open finance space.”
