The Edinburgh-based startup aggregates all of a user’s bank accounts to give a full breakdown of where money is being spent, and where it can be saved.
The startup currently tracks $15bn worth of transactions through the platform, a number that is likely to continue increasing as more and more early adopters try to take greater control of their finances. 100s of new users are said to be joining the platform every day.
“We have grown rapidly over the last few months, as more and more people experience how easily they can take control of their finances when and where ever it suits them,” explains CEO Gavin Littlejohn.
“This latest round of funding reflects the huge potential of the business and we are really excited about expanding our services and reach over the coming months.”
Improving user experience
Money Dashboard will use the funds to enhance the mobile user experience of the platform and add a number of new features, most of which will be geared towards using the data to save users money.
“Money Dashboard is in a unique position to tap into the growing desire of consumers to more easily take control of their finances,” explained Richard Moore, Calculus Capital investment director.
The investment, which also included Ariadne Capital, Par Equity, and The Scottish Investment Bank, brings the total funds raised in the last 12 months to $8.3m.