Moneybox Secures £550M Valuation Following Landmark Move to Profitability

London, 26th October 2024 – Moneybox, a leading UK-based savings and investment platform, has achieved a new valuation of £550 million, following its transition into profitability. The valuation marks an 84% surge from its March 2022 Series D round and comes in the wake of a £70 million secondary share sale agreed with new investors Apis Global Growth Fund III and Amundi.
Apis has committed £60 million, while Amundi has invested £8 million. This secondary share sale will enable existing Moneybox shareholders, including employees, to offload 10% of their holdings, providing liquidity to around 35,000 of the company’s investors.
Founded in 2015, Moneybox has grown to serve over one million UK customers, managing more than £10 billion in assets through its comprehensive app for wealth management. The app offers services for saving, investing, home-buying, and retirement planning.
The firm’s latest financials, for the year ending 31st May 2024, reveal a notable turnaround, with an annual pretax profit of £26.5 million—compared to a £4.1 million loss the previous year. Revenues also soared to £77.2 million from £28.7 million, underscoring the company’s strong financial performance and customer retention.
Co-founder and Executive Chair Ben Stanway expressed his optimism, stating, “Our high customer retention, sustained growth, and increasing profitability underscore the strength of our business. We are excited to welcome new investors, whose expertise will help guide us through the next phase of our journey. This secondary share sale also allows us to recognize the contributions of our team and long-standing investors.”
As part of the deal, Amundi will be represented on Moneybox’s board through Paris-based VC firm Breega, while Apis will take a board observer seat. The announcement comes amidst a wave of similar secondary share deals in the UK fintech sector, following moves by Revolut, Monzo, and GoCardless.
Philippe d’Orgeval, CEO of Amundi UK, commented, “Our investment in Moneybox aligns with our commitment to supporting fintech innovations that promote financial inclusion and drive sustainable growth.”
About Moneybox:
Moneybox offers an all-in-one app for wealth management, helping users save, invest, buy homes, and plan for retirement. The platform has over one million customers and manages assets exceeding £10 billion.