UK savings app Moneybox lands £35m Series D
Digital wealth management app Moneybox has secured £35 million in Series D funding.
The round was led by Fidelity International Strategic Ventures with participation from existing investors and new investor Polar Capital.
The investment brings Moneybox’s total funding raised to date to £95 million.
Moneybox says the cash will go towards building its brand and developing new financial planning products including an investing offering focused on long-term wealth creation.
Moneybox co-founder Ben Stanway says the funding will enable the firm to develop services “to help our customers succeed across their home-buying, retirement, savings and investing missions”.
Launched in 2016 by Stanway and fellow co-founder Charlie Mortimer, Moneybox enables customers to set money aside using round-ups, regular deposits or instant payments. It now has more than £2.9 billion in assets under administration and a community of 800,000 customers.
In 2020, Moneybox raised £38.8 million in a Series C funding round jointly led by Eight Roads and Open CNP.
That round included raising £7 million from more than 16,500 shareholders. The firm plans to do a similar fundraise in May.