TotallyMoney secures £9m in Series A funding to expand its credit app and team.
The credit score fintech raised the capital from existing investors in the UK and the US.
TotallyMoney provides a free credit score service and personal finance application designed to help consumers track and improve their credit health. The platform connects under-served borrowers with tailored financial products through digital channels.
Credit score platform TotallyMoney has secured £9m in Series A funding from its existing backers across the UK and the US. The capital will support the company as it scales its operations amidst increasing financial pressures on consumers. The business plans to direct the proceeds toward enhancing its product offerings, increasing headcount, and expanding its advertising efforts through digital and television channels. Founded to assist the under-served demographic manage their finances, the firm currently serves four million customers.
From the founder
"The number of people ‘just about managing’ with their finances is on the rise and millions are still underserved by the financial sector. We believe that people’s financial data should work for them, not against them. Our service provides our customers with the tools they need to understand their credit score and unlock more opportunities. Central to that is addressing a credit market that is not fit for purpose, and there is huge potential if we can collaborate across the industry to get that right. We’re excited about the next stage of this mission and delivering for our customers."
Alastair Douglas
CEO at TotallyMoney
Use of funds
- 01Continue product development
- 02Grow the team
- 03Invest in sales and marketing
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About the company
TotallyMoney
TotallyMoney operates a free credit score service and personal finance application.