Money saving platform Moneybox has raised new funding as part of a secondary sale that saw its valuation climb to £550m.
Moneybox brought in £70m in fresh funding from investors Apis Global Growth Fund III and Amundi, joining the likes of Oxford Capital, Breega, Burda, CNP and Fidelity International Strategic Ventures.
As part of the secondary sale, existing investors will be able to sell up to 15% of their shares in the company in line with its capital.
Moneybox has 35,000 current shareholders that are customer and employee shareholders, as well as crowdfunded investors. Customer and employee shareholders will be able to sell off 10% of their holdings.
Ben Stanway, Co-Founder and Executive Chair of Moneybox, commented on the secondary sale, stating: “We are excited to welcome Apis and Amundi, who share our vision for how we can help millions of customers build wealth so they can live the life that they want – whether that’s saving for their first place in their 20s, being their own boss in their 40s, or taking the gap year that they never got round to in their 60s.
“Their expertise and support will be invaluable as we move into the next stage of our journey.
“We are also delighted to be able to facilitate this secondary share sale to recognise the hard work of our team and also our investors, many of whom have supported us since inception. We want to enable our shareholder community to realise some of the value of their investment at this important juncture.”
The fresh investment see’s Moneybox’s valuation almost double and increase by 84% since its last funding round in March 2022.
After reaching profitability for the first time in 2022, the company has gone from strength to strength. Handling over £10bn in assets under management, Moneybox revenues grew by 168% in the last financial year.
