Investing app Moneybox secures £14m to expand operations

Jul 9, 2018 · bdaily.co.uk

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Moneybox, the micro-investing app, has secured £14m in Series B funding, in a round led by venture capital firm Eight Roads.

Existing investors including Oxford Capital Partners and Samos Investments also participated.

This new round of funding, which brings the total amount raised by the company to £21.3m, will be used to build out Moneybox’s team and deliver a best-in-class customer experience, including new products and content.

The app said its purpose is to offer people "a simple way to take the first step on their investing journey, and then continue to build their financial future through easy-to-use tools and support."

Launched in August 2015 by entrepreneurs Charlie Mortimer and Ben Stanway, Moneybox has already helped over 100,000 people start their investing journey.

Ben Stanway, co-founder of Moneybox, said: "The traditional wealth management industry is geared to those who already have wealth – a concept that is alien to many young people. It creates huge barriers – including impenetrable jargon – for those who want to start saving and investing.

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