Edinburgh-based Money Dashboard, the free personal finance app with almost half a million downloads, has reserved 1 million free member shares for users.
Member shares were claimed by over 10,000 users within 1 week during a recent pilot test and now all of Money Dashboard’s users will be invited to join the membership community. Every member who joins will be able to invite their friends and in turn increase their stake in the business and for a limited time, all new users that sign up will be automatically reserved a place in Money Dashboard’s membership share scheme.
Money Dashboard’s newly formed member community is the company’s way of putting its customers at the heart of its growth and continued success. By sharing a stake in the business with those who use the app, Money Dashboard is aiming to execute on its vision of a more transparent and fair financial landscape while reaching thousands of new consumers.
Money Dashboard is gearing up for its next phase of growth following a record 2018. The award-winning app (Money Dashboard won Best Personal Finance App at British Bank Awards in 2017 and 2018) has added a fast-growing revenue stream in the form of anonymised consumer spending insights, the customer base of which includes a number of the world’s leading asset management firms, and is actively planning a significant capital raise in the first half of 2019.
In December, Money Dashboard announced a strategic partnership with price comparison site GoCompare with the launch of an API platform that gives third-party developers access to a powerful categorisation which can enrich data from hundreds of UK banks and financial institutions.
The GoCompare tie-up followed previous data-sharing partnerships with Monzo and Starling Bank. Also in December, Money Dashboard picked up multiple awards at the second FDATA Global Open Banking Summit.
Money Dashboard CEO Steve Tigar said: “A year after coming into play, Open Banking has had a relatively slow start but we are now starting to see signs of innovation moving the needle in the sector.”
Money Dashboard is an early pioneer in terms of the UK fintech scene, we have tonnes of ambition to be one of the sector’s next success stories and our member share giveaway is about putting our users at the heart of everything we do and allowing them to share in our success.”