Sir Peter Wood backs open finance platform
Posted on July 15, 2021 by Jonathan Symcox
A market-leading open finance data, intelligence and payments platform has been backed by Direct Line and Esure founder Sir Peter Wood.
The British entrepreneur is leading the £13 million investment round into Moneyhub via a newly formed investment vehicle, SPWOne.
The funding round, which sees all initial investors participating again, will fuel its rapid expansion into Europe as well as the wealth, insurance and retail sectors.
Moneyhub has already established a market-leading product in the enterprise market in the UK, and now boasts clients including Mercer, Aon, Nationwide and Standard Life.
The Moneyhub platform provides the most comprehensive, agile and robust suite of open banking and open finance data connections, intelligence and payment solutions through APIs and white-label products.
Its clients in all sectors can access data, analytics and smart, actionable insights, and achieve far greater understanding and engagement with their customers – and can therefore deliver unique hyper-personalised customer experiences that create a true value exchange based on trust.
Sir Peter Wood, said: “At SPWOne, we are committed to investing in success. Open Finance is a permanent technological revolution, fundamentally changing the way businesses interact with their customers.
“I believe Moneyhub is an outstanding innovator led by a strong management team and is well positioned to become a global leader in the open finance space.
“We are delighted to be supporting Sam and her team at such an important stage in the company’s development.”
Samantha Seaton, CEO at Moneyhub, added: “I am so excited to have Sir Peter’s backing for the next phase of the Moneyhub journey. It is incredibly rewarding to be able to deliver results to both investors and clients in this truly transformational landscape.
“It is a fantastic vote of confidence from Sir Peter, and his team, who are renowned for foreseeing game-changing growth opportunities – and a ringing endorsement of our team and our strategy for applying new technology where the rules of engagement have been turned upside down.”