Savings and investment platform Moneybox landed $90 million (£70 million) today. The round was led by Apis Global Growth Fund III and includes funds from Amundi.
“We are excited to welcome Apis and Amundi, who share our vision for how we can help millions of customers build wealth so they can live the life that they want – whether that’s saving for their first place in their 20s, being their own boss in their 40s, or taking the gap year that they never got round to in their 60s,” said Moneybox Co-founder and Executive Chair Ben Stanway.
Today’s funds boost the U.K.-based company’s total funding to $213.4 million (£165 million). This investment will largely be achieved via a secondary share sale in which existing investors will sell 10% to 15% of the current share capital.
“We are also delighted to be able to facilitate this secondary share sale to recognize the hard work of our team and also our investors, many of whom have supported us since inception. We want to enable our shareholder community to realize some of the value of their investment at this important juncture,” added Stanway.
Founded in 2015, Moneybox offers investing, saving, pension, and home-buying Lifetime ISA tools in a single app. The company, which currently counts one million users and surpassed £10 billion in assets under administration in 2023, will use today’s funds to further its innovation, build on its growth, and ultimately strengthen its market position.
The investment comes two-and-a-half years after Moneybox’s £35 million ($45 million) Series D round in 2022, which valued the company at $388 million (£300 million). Moneybox has made an impressive acceleration since then, boosting its valuation by 84% to $711 million (£550 million).
“Moneybox is revolutionizing the way people approach personal finance by making saving and investing more accessible and understandable,” said Apis Co-Founder and Managing Partner Matteo Stefanel. “Moneybox’s mission to help everyone save and build wealth for the future aligns with Apis’ democratisation of finance theme and Impact goals, and we’re excited to support the team in this phase of their journey.”
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Conclusion: Moneybox’s recent funding round has not only solidified its position in the market but also highlighted the increasing importance of accessible and understandable personal finance tools. With a significant increase in valuation and a strong focus on innovation, Moneybox is set to continue revolutionizing the way individuals approach saving and investing. The support from Apis Global Growth Fund III and Amundi further underscores the confidence in Moneybox’s mission to help customers build wealth for the future. As the company continues to grow and expand its offerings, it remains a key player in the financial technology landscape, paving the way for a more inclusive and prosperous financial future for all.
