Flagstone secures £12m Series B funding from OMERS Ventures to scale UK operations
The investment round was led by OMERS Ventures with support from existing backers Kindred Capital and Moneysupermarket Group.
Flagstone operates a cash savings platform that connects individual, business, and charity clients with a wide range of bank accounts. The firm administers over £11bn in assets.
London based fintech platform Flagstone has secured £12m in a Series B funding round led by OMERS Ventures. The raise also drew participation from existing backers including Kindred Capital and Moneysupermarket Group. The capital will be deployed to drive deeper penetration across new customer segments within the UK market.
Established in 2013, Flagstone has processed over £5bn in deposits and provides users with access to hundreds of accounts across 44 banking institutions. The platform counts several major wealth managers and digital finance brands among its partners.
From the founder
"Raising growth capital from leading investors such as OMERS Ventures is a testament to the strength of our business model and the great work that the Flagstone team does every day to support clients with protecting their cash deposit investments. This new financing will support the acceleration of our plans to extend our penetration of the UK market to new customer segments."
Simon Merchant
Co-Founder and CEO at Flagstone
Investor perspective
"The Flagstone team impressed us from the start."
Harry Briggs
Partner, OMERS Ventures
Use of funds
- 01Expand into international markets
