Moneybox raised £70M in a secondary share sale led by Apis Global Growth Fund III and Amundi to allow existing shareholders to cash out some of their investment.
Moneybox raised £70M in a secondary share sale led by Apis Global Growth Fund III and Amundi to allow existing shareholders to cash out some of their investment.
10/23/24, 9:50 AM
Location
Money raised
£70 million
Industry
financial services
Investors
Cnp, Burda, Breega, Oxford Capital, Fidelity International Strategic Ventures, Amundi, Apis Global Growth Fund Iii
Moneybox, a UK savings and investment app, announced a secondary share sale involving £70M investment from Apis Global Growth Fund III and Amundi. This move allows existing investors to sell 10-15% of their current share capital while the company’s valuation has nearly doubled to £550M.
Company Info
Location
london, england, united kingdom
Additional Info
MoneyBox co-founder and co-CEO Ben Stanway told fintech publication AltFi that the company will also introduce “crypto-investing” options, such as adding a small amount of Bitcoin to a larger portfolio. MoneyBox, like other digital investment firms, has enjoyed rapid growth during the pandemic.The company says it handles more than £2.9bn in assets and that its revenue has grown by 340% since its £30m Series C fundraise in July 2020.“This new round of investment enables us to create even better services to help our customers succeed across their home-buying, retirement, savings and investing missions,” said Stanway. “By continuing to focus on the large and under-served mass market we believe we are on a path to create the UK’s category-defining wealth platform.”MoneyBox now employs around 300 people and has recently bolstered its leadership team with a series of new hires.The fintech said it will also open up its funding round to retail investors via a crowdfunding campaign in May.“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,” said Alokik Advani, managing partner, Fidelity International Strategic Ventures. British digital wealth manager MoneyBox has secured £35m in a Series D funding round, bringing the total investment in the London-based firm to £95.1m.Launched in 2016, more than 800,000 people use MoneyBox for savings products such as Lifetime ISAs, personal pensions and stocks and shares investments. MoneyBox said it will use the capital injection to introduce financial planning services and an investment product that focuses on “long-term wealth generation”.