Money Dashboard raises record £4.6m crowdfund
Edinburgh-based fintech Money Dashboard has achieved its biggest ever crowdfund, raising £4.6 million to drive further growth, writes Jane Connolly.
Insider reports that the app received investment from 3,300 crowdfunding investors in the round, which was also the biggest fintech raise on Crowdcube so far this year. The initial target of £1.5 million was reached in under 45 minutes.
Also supported by Scottish Investment Bank and Calculus Capital, Money Dashboard helps users to manage all their accounts in one place by connecting to over 70 financial institutions.
The company now aims to expand the free app to a wider customer base.
“Money Dashboard’s vision to help people better manage their money has once again resonated with many of our investors,” says co-founder of Crowdcube, Luke Lang. “It’s fantastic to see an innovative business connect their community, fuel their growth and take those investors, in this case, on their journey to create a fairer financial landscape.”
Steve Tigar, Money Dashboard’s CEO, says he is “thrilled” to have secured the latest round of funding.
He adds: “We are now equipped and ready to help people from every walk of life master their money.”
Revenue for Money Dashboard is generated by market research based on anonymised banking data.