UK savings app Moneybox lands £35m Series D

Digital wealth management app Moneybox has secured £35 million in Series D funding.

Moneybox co-founder Ben Stanway

The round was led by Fidelity International Strategic Ventures with participation from existing investors and new investor Polar Capital.

The investment brings Moneybox’s total funding raised to date to £95 million.

Moneybox says the cash will go towards building its brand and developing new financial planning products including an investing offering focused on long-term wealth creation.

Moneybox co-founder Ben Stanway says the funding will enable the firm to develop services “to help our customers succeed across their home-buying, retirement, savings and investing missions”.

Launched in 2016 by Stanway and fellow co-founder Charlie Mortimer, Moneybox enables customers to set money aside using round-ups, regular deposits or instant payments. It now has more than £2.9 billion in assets under administration and a community of 800,000 customers.

In 2020, Moneybox raised £38.8 million in a Series C funding round jointly led by Eight Roads and Open CNP.

That round included raising £7 million from more than 16,500 shareholders. The firm plans to do a similar fundraise in May.