Moneybox, the savings and investment platform, has made significant strides with its latest £550m valuation.
- Founded in 2015, the company’s valuation surged by 84% since the March 2022 Series D funding round.
- This increase follows substantial investments from Apis Global Growth Fund III and Amundi, totalling approximately £70m.
- The firm’s transition into profitability reveals a remarkable shift, reporting a £26.5m pretax profit.
- Upcoming secondary share sale allows 35,000 employee shareholders to sell 10% of their holdings.
Moneybox, established in 2015, recently achieved a significant valuation milestone with a new valuation of £550m, marking an 84% increase since its last pricing in the March 2022 Series D funding round. This impressive growth is partly due to new investments from Apis Global Growth Fund III and French asset manager Amundi, which collectively invested around £70m in the company.
Apis contributed approximately £60m while Amundi added £8m to support Moneybox’s growth. The firm’s success is further evidenced by its transition to profitability, reporting a £26.5m pretax profit in the year ending 31 May 2024, a stark improvement from the previous year’s £4.1m loss.
Moneybox’s revenue also saw a substantial increase, climbing to £77.2m from the previous £28.7m, demonstrating the company’s robust performance in the financial technology sector. The platform, which integrates savings, investing, home-buying, and retirement planning, now serves over one million UK customers with managed assets exceeding £10bn.
In light of its financial success, Moneybox plans a secondary share sale, providing an opportunity for its 35,000 employee shareholders to sell up to 10% of their holdings. This move follows similar strategies employed by other UK fintech companies like Revolut and Monzo.
The new funding agreement brings increased board representation for Moneybox, with Amundi represented by Breega, and Apis joining as a board observer. Ben Stanway, Moneybox’s co-founder, noted the value of their expertise as the company embarks on its next phase.
Philippe d’Orgeval, Amundi’s UK CEO, underscored their investment as a commitment to supporting fintech solutions that promote financial inclusion and sustainable growth.
Moneybox’s remarkable valuation growth and profitability signal a promising trajectory for the fintech firm.
