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Bristol’s Moneyhub extends round to £55m with £15m boost

Image credit: Nattakorn_Maneerat via Shutterstock

Bristol-based fintech Moneyhub has extended its latest funding round to £55m with a further investment of £15m.

Founded in 2014, Moneyhub is an open banking-powered app for the management of finances. The app allows users to view all their finances across multiple bank accounts, credit cards, and other sources in a single location.

The app also has features to support budgeting and the tracking of spending. Users can set spending and budgeting goals and receive saving tips.

“Since the beginning, Moneyhub has been a trailblazer and at the vanguard of the data and payments revolution,” said Samantha Seaton, CEO of Moneyhub.

“Our market-leading Open Data solutions have the ability to help businesses with their growth objectives, while in turn improving the financial lives of their customers.”

The additional investment came from Phoenix Group, which has joined Legal & General and Lloyds Banking Group as a co-lead investor in the startup’s latest round.

“Open Data is revolutionising customer interactions across our industry, powering new and innovative solutions, and offering greater flexibility to individuals to manage their financial well-being,” said Andy Curran, chief executive of Standard Life, part of Phoenix Group.

“Moneyhub is at the forefront of setting standards for the sector and a natural partner for Phoenix Group and our Standard Life business as it drives data regulation and access to Open Finance.

“We are focused on helping people secure a lifetime of possibilities and look forward to working with the Moneyhub team to harness the power of Open Data.”

The £15m boost follows an initial £40m investment in October.