Moneybox appoints first COO as it sails past 500,000 customers

Savings and investment app Moneybox has appointed Karen Kerrigan as its first chief operating officer.

Kerrigan joins the Moneybox team as the fintech surpasses 500,000 customers and now has over £1 billion in assets under management.

The newly appointed executive joins Moneybox from Seedrs where she was previously COO and played an instrumental role in scaling the business ahead of its merger with fellow crowdfunding platform Crowdcube.

Before stepping into the COO role at Seedrs, former City lawyer Kerrigan was the chief legal officer at Seedrs and oversaw the legal, compliance, financial and people teams. 

At Moneybox, the new COO will take over responsibility of the fintech’s risk, compliance, governance, customer operations and people teams, as well as the role of company secretary.

Speaking of her appointment, Kerrigan said: “As someone who believes deeply in the power of fintech to make investing more accessible and fair for customers, I feel motivated and inspired by the Moneybox mission.” 

“The team has already helped more people than ever save and invest for their future - through an engaging customer experience, a competitive product suite and a trusted brand. I'm very much looking forward to being part of what's set to be the most exciting chapter of Moneybox's growth yet.” 

Moneybox has had a strong year so far, the fintech has seen its customer base expand by nearly double (82 per cent) between November last year and November 2020.

Ben Stanway,Moneybox co-founder, added: “Karen brings with her a breadth of senior management experience from Seedrs, legal expertise that we need to continue our growth trajectory, a willingness to get stuck in, and lots of energy and drive.”

As well as surpassing half a million customers, Moneybox recently completed one of the most successful crowdfunding campaigns ever, in conjunction with its £30m Series C fundraise.

The fintech surpassed its initial goal of £1 million just 20 minutes after opening the campaign on Crowdcube and went on to raise over £7m in just over two days.

Moneybox’s campaign was so successful that it had to close the crowdfunding effort 27 days early.

The wealth manager also expanded its personal pension, which had a waitlist of over 100,000 people when it launched back in March, and introduced a pension detective to help its customers track down their lost pensions.