Saving and investing app Moneybox has appointed Karen Kerrigan as its first Chief Operating Officer.

Joining from crowdfunding platform Seedrs, she will take on functional responsibility for the Risk, Compliance, Governance, Customer Operations and People functions, as well as the role of Company Secretary.

She will also be tasked with setting up a new legal function, as part of helping to scale the business on the next stage of its growth trajectory.

Part of the Executive Team and the Board at Seedrs, Kerrigan was responsible for core business scalability including leading the legal, compliance, financial and people teams.

A former City lawyer, over the last 7.5 years Kerrigan has played an active role in the wider FinTech community, through her positions on the Board of the UK Crowdfunding Association, as well as her involvement in UK and European lobbying efforts for appropriate regulation for a new wave of financial services.

Launched in 2016, Moneybox originally offered customers the chance to invest the spare change from daily card purchases into a Stocks & Shares ISA. It now offers a range of saving and investment products including Lifetime ISAs, Savings Accounts and Pensions.

Moneybox reports it has secured 500,000 customers and over £1bn in assets, employing 170 people.

Ben Stanway, Moneybox co-founder said of the hire: “We’re delighted to welcome Karen to the Moneybox team. Karen brings with her a breadth of senior management experience from Seedrs, legal expertise that we need to continue our growth trajectory, a willingness to get stuck in, and lots of energy and drive.

“We think she’ll be an amazing addition to the team and are very excited about the role she will play in the next stage of our journey.”

Kerrigan added: “As someone who believes deeply in the power of fintech to make investing more accessible and fair for customers, I feel motivated and inspired by the Moneybox mission.

“The team has already helped more people than ever save and invest for their future – through an engaging customer experience, a competitive product suite and a trusted brand. I’m very much looking forward to being part of what’s set to be the most exciting chapter of Moneybox’s growth yet.”