Moneybox has raised £70 million in fresh funding which sees its valuation nearly double to £550m.
The saving and investing platform has added Apis Global Growth Fund III and European asset manager Amundi to its investor base. They join existing investors Fidelity International Strategic Ventures, Oxford Capital, Breega, Burda and CNP.
The deal will mainly be facilitated through a secondary share sale, with existing investors selling 10-15% of the current share capital.
The valuation of £550m is an 84% increase since its Series D round in March 2022 and comes following Moneybox’s first full year of profitability.
The firm recently surpassed £10 billion in Assets under Administration. In the last fiscal year alone, the business has successfully scaled revenues by 168% and AuA per customer by 46%.
As part of the secondary share sale, Moneybox’s 35,000-strong shareholder community, including crowdfund investors, customer shareholders and employee shareholders, will all have the opportunity to sell 10% of their holding.
Founded in 2015, Moneybox supports more than 1m customers across the UK to save, invest, buy their first homes, and plan for a comfortable retirement.
“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,” said Ben Stanway, co-founder and executive chair.
“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.
“Our high customer retention, sustained growth, and increasing profitability underscore the strength of our business, and we are excited about the incredible opportunity ahead.”
Matt Cooper, co-CEO of Crowdcube, added: “This marks the largest secondary liquidity event ever for a private company in the UK and EU by number of sellers.
“More than 26,000 retail investors backed Moneybox in some of Europe’s most successful retail investment rounds for a private company, and it’s fantastic to see them now being rewarded with the chance to sell part of their shareholding.”