This latest fundraiser comes 18 months after its last round on Crowdcube, which saw the free personal finance app raise £1.4 million from more than 1000 of its users.
Peter O’Higgins, a key hire for the company as it looks to accelerate its growth, will now take up the role of CFO to lead its finance and operations function. Due to be launched next week, it will be Scotland’s largest fintech crowdfunder.
Money Dashboard CEO, Steve Tigar, said: “Peter was part of Revolut’s top team and saw the business grow from 200,000 to over 4.5 million users during his three-year tenure.
Revolut’s CEO described Peter’s contribution as ‘absolutely pivotal to our success’. We’re excited to have Peter on board as we enter our next phase of growth. Our aim is for Money Dashboard to be one of the UK’s next big fintech players.”
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Over the next 12 months, the firm plans to expand its growth. Ranked the best personal finance app in the UK, it enables users to manage all of their financial accounts securely in one place.
Money Dashboard has recently announced a strategic partnership with GoCompare, a price comparison website, which follows two significant data-sharing partnerships with Monzo and Starling Bank. In December the company received a number of accolades at the second FDATA Global Open Banking Summit.
The newly appointed O’Higgins said: “I’ve been a Money Dashboard user for a number of years, I’m very excited to have the opportunity to join the team and contribute to the future growth of the product.
“There is a huge market opportunity for Money Dashboard. I joined Revolut at a similar stage in its trajectory and it would be great to repeat some of its well-documented success here.”
Stephen Ingledew, CEO of Fintech Scotland, said: “The Scottish fintech scene is booming. In the part year along, the number of fintechs operating in Scotland has trebled.
Money Dashboard’s appointment from a London-headquartered fintech is a strong signal that Edinburgh and Scotland more generally is a fintech hub to be reckoned with.”