Moneybox, a renowned London-based savings and investment platform, has marked significant growth in its financial valuation.
- The newly attained valuation stands at £550 million, following the firm’s transition into profitability.
- This valuation marks an impressive 84% increase since its Series D funding round in March 2022.
- The company has successfully secured around £70 million in new investments from Apis Global Growth Fund III and Amundi.
- Existing investors will have the chance to participate in a secondary share sale, reinforcing Moneybox’s commitment to rewarding its stakeholders.
Moneybox, founded in 2015, has achieved a major milestone with its valuation now standing at £550 million, a figure that reflects the company’s transition into profitability. This growth comes ahead of a secondary share sale event, and the valuation marks a remarkable 84% increase since the firm’s last Series D funding round in March 2022.
In a move to bolster its financial standing, Moneybox has secured substantial investments totaling approximately £70 million. This influx of funds comes from new investors, including Apis Global Growth Fund III, which has contributed around £60 million, and French asset manager Amundi, which has injected £8 million. These investors have shown strong confidence in Moneybox’s potential for sustained growth in the fintech sector.
The London-based company operates a comprehensive wealth management app encompassing services like saving, investing, home-buying, and retirement planning. With over one million customers across the UK and more than £10 billion in assets, Moneybox has demonstrated significant traction in the market. Notably, the company reported a pretax profit of £26.5 million for the fiscal year ending May 31, 2024—an impressive recovery from a £4.1 million loss the previous year. Meanwhile, revenues surged to £77.2 million, up from £28.7 million.
Co-founder and executive chair, Ben Stanway, emphasized the company’s robust customer retention and consistent growth as key factors underpinning its profitability. He further expressed optimism about the expertise and support from new investors aiding Moneybox’s strategic journey. As part of the new agreement, Amundi will be represented on Moneybox’s board via the Paris-based VC firm Breega, with Apis joining as a board observer.
Stakeholders and existing investors, including 35,000 employee shareholders, are poised to benefit from the planned secondary share sale, which aligns with similar financial maneuvers by other fintech firms like Revolut and Monzo. This initiative is aimed at recognizing the contributions of Moneybox’s team and long-term supporters.
Amundi’s UK CEO, Philippe d’Orgeval, highlighted their investment as a commitment to supporting fintech innovations that promote financial inclusion and sustainable growth. Moneybox’s diverse investors list includes major players like Fidelity International Strategic Ventures, Oxford Capital, Breega, Burda, and CNP, reflecting a robust and diverse backing for the company.
Moneybox’s journey to a £550 million valuation underscores its successful transition to profitability and strategic growth in the fintech sector.
