Ben Stanway

Moneybox secures £7 million Series C Follow On investment via Crowdcube in record time

Moneybox crowdfunds £7 million in less than two days, and becomes one of the most popular raises in Crowdcube’s history with over 16,500 investors participating

  • Moneybox crowdfunds £7 million in less than two days, and becomes one of the most popular raises in Crowdcube’s history with 16,738 investors participating*
  • Smashing its original investment target of £1m in just 20 minutes, Moneybox raised over £4m in the first four hours of launching the campaign
  • Moneybox is crowdfunding to bring its community closer to its exciting growth journey and help it become one of the largest saving and investing platforms in the UK
  • Moneybox will use the funds to supercharge its growth by continuing to build the tools, technology and products to further execute its mission to help everyone save and invest for their future
  • The crowdfund follows the recent announcement of the company reaching £1bn in assets, and securing £30 million from professional investors in a Series C funding round

Thursday 30th July, 2020: Moneybox, the award-winning saving and investing app, has raised £7m in 2 days on Crowdcube, the world’s largest investment crowdfunding platform – smashing the 2020 record for largest number of investors in a single campaign. 16,738 investors participated in the crowd raise, which saw Moneybox reach its original target of £1,000,000 in just 20 minutes.

Moneybox is on a mission to help everyone save and invest for their future. Launched in 2016, the company has experienced rapid growth and now has a community of more than 450,000 customers and a team of 120 people. Offering a range of saving and investment products, Moneybox enables customers to set money aside in the way that suits them best using round ups, regular deposits or one-off payments, whilst popular tools such as the Time Machine help them keep their savings on track. Having recently
reached the milestone of over £1bn in assets, Moneybox is growing at an average of £100m per month, and Moneybox users have an average balance of £2,273 on the platform. With customer growth of 121%* year on year, Moneybox is currently growing faster than some of the biggest names in UK wealth management.

Through the crowdfund, Moneybox wants to bring its community closer to its exciting growth journey and enable them to share in the company’s success. Moneybox has an engaged user base, where 62% of users log in to the app every month. In addition to scaling the team, the funding will be used to supercharge its growth and further execute its mission to help everyone save and invest for their future. Over 16,500 investors participated in the crowdfunding, making it the largest number of investors in a single campaign in 2020, and one of the most popular in Crowdcube’s history.

The crowdfund follows a recent Series C funding round announced earlier this month, where Moneybox raised £30 million from professional investors. In 2018, Moneybox raised £14 million in a Series B.

Ben Stanway, Co-founder of Moneybox said:

“We’re thrilled to have completed our first ever crowd raise, giving our amazing community the chance to be a part of our journey and  help us become one of the largest saving and investing platforms in the UK. Securing this funding enables us to continue to build the products, tools and technology to help people achieve their goals easily – whether it’s buying a house, saving for retirement or just a rainy day. We’re blown away by the positive response to the campaign, and are very excited to have every single one of our over 16,500 new shareholders onboard as we continue to execute our mission of helping everyone save and invest for the future. Giving our community the chance to own part of the company has always been in our plan, so we are excited the day has finally arrived.”

Luke Lang, co-founder of Crowdcube commented:

“With over 16,500 investors, Moneybox is one of the most popular campaigns in Crowdcube’s history. Moneybox now has an extremely powerful core community of brand advocates who are passionate about their vision and I suspect these new shareholders will be hell-bent on spreading the word to help Moneybox grow even faster.”

ENDS 

For enquiries please contact Moneybox: 

Mille Winge, PR & Communications Manager,
[email protected] / +447432297400

Notes to editors 

*Top 5 Most Popular Campaigns:

  1. Monzo Bank: 35,911 investors (2018)
  2. Moneybox: 16,738 investors (2020)
  3. Curve: 9,402 investors (2019)
  4. Freetrade: 8,309 investors (2020)
  5. carwow: 7,967 investors (2019)

About Moneybox

Moneybox is the award-winning app on a mission to help everyone save and invest for their future. Founded in 2015 by entrepreneurs Charlie Mortimer and Ben Stanway, Moneybox is already helping over 450,000 customers through a range of cash and investment products to suit shorter and longer term savings goals. In 2020 Moneybox raised £30m in a Series C funding round jointly led by Eight Roads and new investors Open CNP, the corporate venture fund of CNP Assurances, alongside existing investors and adding Breega on as shareholders. In 2018, Moneybox raised £14 million in a Series B lead by Eight Roads. You can learn more about Moneybox at https://www.moneyboxapp.com/ 

The Moneybox mission: Millions of us go through life knowing that we should be doing more to save and invest for the future, but we leave it at the bottom of our to-do-list because we don’t know where to start. 

Moneybox is determined to change this by:

  • making it easy for people to get started: our popular round ups feature allows people to save and invest the spare change from their everyday purchases, and our regular weekly deposits and payday boosts help people set their savings to autopilot
  • offering products to suit every need: whether you’re saving for your first home, a rainy day, a holiday or even planning for retirement, Moneybox is here to help 
  • encouraging people to make the right saving and investing decisions throughout their lives: helpful features, such as the time machine tool, allow you to visualise what your savings can amount to in the future 
  • bringing everything together in a service which is simple and enjoyable to use 

We are already helping more than 450,000 people save and invest for their future, offering the following products: 

  • Stocks & Shares ISA
  • General Investment Account
  • Stocks & Shares Lifetime ISA
  • Cash Lifetime ISA
  • Personal Pension  
  • 95 Day Notice Account
  • Junior ISA

Moneybox is the trading name for Digital Moneybox Limited. Authorised and regulated by the Financial Conduct Authority. 

About Crowdcube

As the world’s first and largest investment crowdfunding platform, Crowdcube enables entrepreneurs to raise finance with the added benefit of being backed by the crowd. For investors, Crowdcube provides a way to hand-pick a stake in an innovative business that traditionally would have been restricted to corporate investors. www.crowdcube.com

Manoj Ranaweera

Manoj has founded, failed and successfully exited from a number of technology product companies as well as support organisations since 2004. Among them, Northern Tech Awards and edocr.com were acquired by GP Bullhound and Accusoft, Inc respectively. Today, Manoj is building a trusted support network for technology companies. He is working with founding teams to help them accelerate including raising investment and M&A.