Moneybox smashes £6.25m crowdfunding round ahead of crypto launch

Digital wealth manager Moneybox has raised £6.25m in a crowdfunding round.  

Coming at a time of turmoil in public stock markets, investors didn’t seem deterred by negative sentiment toward growth companies.  Over 15,000 investors backed the round, which took in place on Crowdcube and lasted just three days. 

“Given the current economic climate, our mission to help people build wealth with confidence has never been more important. Our focus now is on finding new ways to guide and support people with financial planning throughout their lives. By continuing to focus on the under-served mass market we believe we are on a path to create the UK’s category-defining wealth platform,” said Ben Stanway,Moneybox co-founder.

Launched in 2016 by co-founders Ben Stanway and Charlie Mortimer, Moneybox says it now has 850,000 customers. It manages about £3.1bn of assets and has a team of 330.

It operates saving, investing, mortgages and pensions and most recently, as exclusively revealed by AltFi, is planning a foray into the crypto space.

Moneybox’s total haul to over £100m including a recent £35m Series D funding round led by Fidelity. Existing investors Oxford Capital, CNP, Burda and Breega, plus new investor Polar Capital Also took part.

Two years ago Moneybox raised a similar pot of cash from the crowd making the company the title holder of the second and third most popular crowdfunding rounds on Crowdcube as shown below. 

Company

No. of Investors

Amount Raised

Monzo

35,911

£19,928,675

Moneybox (2020)

16,712

£7,074,588

Moneybox (2022)

15,352

£6,257,218

Chip

12,492

£10,876,793

Curve

10,562

£9,097,660

Source: Crowdcube