Over the weekend, UK-based personal finance management app Money Dashboard completed its equity crowdfunding round on Crowdcube. The company secured well over its initial £1 million funding target (£1.3 million) thanks to over 1700 investors.
Money Dashboard’s app notably 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. The firm seeks to fill that gap by pulling in bank statement data from any account in the UK and automatically organize the spending data.
“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.”
The company has raised £10m from investors including Calculus Capital, Par Equity & Ariadne Capital. The business is also backed by former execs at Deutsche Bank, Barclays Wealth, and Aberdeen Asset Management.
Funds from the campaign will be used to continue Money Dashboard’s expansion.
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