Dubai Investments has acquired a 9 percent stake in Monument Bank to support its international expansion and technology rollout.
"Investment in Monument Bank provides the Group a unique opportunity to foray into Digital Banking space in one of the most advanced and regulated markets at an early stage. The accelerated global shift to digital banking has been very positive for neobanks and the growth has been fueled by waves of customers who have embraced digital banking’s expanded product suite. With Monument Bank combining traditional and established banking products with innovative solutions, the Group is looking forward to be a part of the evolving and the continued growth phase of digital banks while expanding horizons and diversifying strategically."
European private equity fund MonacoSol backs the Manchester recruiter marketplace to drive domestic and international growth.
"We all use marketplaces to do things like book travel and find insurance, and at a time when the war for talent makes it more challenging than ever to find candidates, using the same model is helping companies find candidates quickly with less hassle through our trusted network of specialist recruitment agencies."
OMRON Ventures joins existing backers including abrdn, Environmental Technologies Fund, and Granpool Innovative Investments in backing the TechBio platform.
IW Capital has provided an additional £800k to support the retail technology developer as it scales its operations.
"Ubamarket is disrupting the traditional shopping experience with their Scan Pay Go technology seen across the retail industry today. It has developed a compelling Scan Pay Go app with its patented technology and is now ready to roll out at scale. IW Capital is excited to be backing Ubamarket at a fundamental time as they scale up their technology offering and expand globally. Their technology improves businesses and customer experiences alike."
Phoenix Group joins existing backers Legal & General and Lloyds Banking Group as a co-lead investor in the business.
"This additional investment from Phoenix Group, following our long-standing commercial relationship with its Standard Life business, is further testament to the growing possibilities the industry sees in Open Data, and the transformational role Moneyhub can play. We are delighted that Phoenix Group has chosen to go even further by investing in the business. With Consumer Duty and Pensions Dashboard driving the need to focus on consumer outcomes, the only answer is to work in a trusted data sharing approach with your customers."
