Moneybox's valuation climbs to £550m with new £70m investment - : Fintech news
Summary
UK-based saving and investment platform Moneybox has secured around \xa370 million in new funding, boosting its valuation to \xa3550 million.The investment sees new backers Apis Partners, a London-based VC firm, and French asset manager Amundi join the companys investor base, which also includes the likes of Fidelity International Strategic Ventures and Oxford Capital.Moneybox says the investment will mainly be facilitated through a secondary share sale, with existing investors selling 10-15% of the current share capital. The move positions the firm among British fintechs such as Revolut and Monzo, which have both carried out similar secondary share sales in recent months.As part of the secondary share sale, Moneyboxs 35,000-strong shareholder community, including crowdfund investors, customer shareholders, and employee shareholders, will all have the opportunity to sell 10% of their holding and realise some value from the companys strong growth trajectory, Moneybox says.Founded in 2015 by Ben Stanway and Charlie Mortimer, Moneybox offers a money management app that enables its more than one million customers to save and invest through instant payments, round-ups, or regular deposits.Its latest round, labelled the largest secondary liquidity event ever for a private company in the UK and EU by number of sellers by Crowdcube co-CEO Matt Cooper, follows the companys \xa335m Series D in 2022.Moneybox says this rounds \xa3550 million valuation reflects an 84% rise from its Series D valuation, with the new share price of \xa310.08 up from the Series D price of \xa35.58.