Moneyhub raises £40m from Legal & General, Lloyds Banking Group, and Shawbrook to accelerate international growth.
Legal & General and Lloyds Banking Group led the financing round, which includes a £5m debt facility from Shawbrook.
Moneyhub operates an open finance and data platform that enables enterprise clients to build personalised customer experiences and initiate payments. The company provides ISO 27001 certified software designed to aggregate data and generate consumer insights.
Moneyhub has secured £40m in a funding round comprising equity and debt to scale its open data technology internationally. Legal & General and Lloyds Banking Group provided the primary equity backing in exchange for minority stakes, while Shawbrook supplied an additional £5m debt facility.
The capital will support ongoing solution development across wealth management, pensions, and affordability capabilities. Additionally, the funds will drive global expansion for the platform as demand increases for open banking infrastructure.
This transaction represents the largest fundraising effort for the firm to date. It follows previous backing from investors including Sir Peter Wood through his vehicle SPWOne.
From the founder
"Their new investment helps us signal a step change in the way the financial services industry thinks about Open Data and the possibilities it presents. Understanding and utilising customer transaction data for the benefit of the customer’s financial wellbeing not only helps businesses fulfil their consumer duty regulatory obligations, but also empowers them to create further opportunities."
Samantha Seaton
CEO at Moneyhub
Investor perspective
"Moneyhub is a leading provider in open data and so was an obvious choice for us to invest in to accelerate our commercial goals and support the growth of our Workplace savings business. Beyond the numbers, Moneyhub’s purpose, to improve financial wellbeing, fits well with our own purpose of building a better society to improve the lives of customers whilst creating value for shareholders. We see significant potential for a meaningful long-term relationship with Sam and her team and we are very excited to work with Moneyhub as they continue to grow."
Wian Pieterse
Fintech MD, Legal & General
Use of funds
- 01Continue product development
- 02Expand into international markets
