Money Dashboard, a UK-based firm that has created a personal finance management app, recently launched its equity crowdfunding campaign on Crowdcube seeking £1 million. The company is reportedly backed by Calculus Capital, the Best EIS Fund Manager three years running and recently won the 2017 British Bank Award for best personal finance app.
The company reports that the app empowers more than 100,000 users to make better financial decisions and achieve their financial goals. It was revealed that 32 million adults in the UK regularly bank online, but very few feel in control of their financials. Money Dashboard seeks to fill that gap by pulling in bank statement data from any account in the UK and automatically organize the spending data.
“Armed with this insight, alongside budgeting and forecasting tools, customers have the TrueView™of their finances, and are able to make better decisions on how to spend their money. The company generates revenue by creating insightful market research from anonymised bank statement data, for example, by helping hedge funds predict revenue announcements of listed companies. Money Dashboard has very quickly gained traction with its target market, and counts the world’s most prestigious asset managers as subscribers.”
Speaking about where the Crowdcube campaign funds will go towards, Money Dashboard stated:
“To capitalise on the growth opportunity afforded by Open Banking, finance is being raised to expand the sales & marketing team to achieve our ambitious growth targets.”
Since its launch, the campaign has secured more than £600,000 from 675 investors. It is set to close at the end of August.
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