Edinburgh Fintech Money Dashboard Raises £4.6 million
Money Dashboard will use the funding to take the app to the masses and scale its team.
Edinburgh-based Money Dashboard has raised £4.6 million in funding, thanks to investment from 3,300 crowdfunding investors, in what is the biggest fintech fundraise on Crowdcube this year.
Existing investors, the Scottish Investment Bank and Calculus Capital also contributed.
Earlier this year, Money Dashboard reached its initial target of £1.5 million in under 45 minutes, raising more than £2 million from crowdfunding in less than 24-hours. The Edinburgh-based fintech said the cash will be used to build out the personal finance app and triple the size of its team from 20 to 60 staff.
Launched in 2010, Money Dashboard’s app helps more than 200,000 people manage their finances. The app connects to more than 70 financial institutions, so users can manage all of their accounts in one place to track spend, plan ahead and achieve their goals.
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Steve Tigar, Money Dashboard CEO, said: “We’re absolutely thrilled to have secured this latest round of funding, particularly with the backing of over 3000 people who share our vision. We are now equipped and ready to help people from every walk of life master their money.”
Luke Lang, co-founder of Crowdcube, said: “Money Dashboard’s vision to help people better manage their money has once again resonated with many of our investors.
“It’s fantastic to see an innovative business connect their community, fuel their growth and take those investors, in this case, on their journey to create a fairer financial landscape.”
Kerry Sharp, director of Scottish Investment Bank, added: “Having supported Money Dashboard from an early stage, it is great to see the business raising the funds required to implement the next stage in its growth.
“The FinTech sector is a key industry in Scotland’s economy and we look forward to continuing to work with the company, both from an investment perspective and through our account management support, to deliver its long-term growth ambitions.”