Money Dashboard has successfully raised £4.6 million in total, taking investment from 3300 crowdfunding investors, in what is the biggest FinTech raise on Crowdcube this year.
In parallel, existing investors Scottish Investment Bank and Calculus Capital also invested.
The company reached its initial target of £1.5 million in under 45 minutes
Funds are to be used to build out the personal finance app and triple the company’s Edinburgh-based team from 20 to 60 staff.
Money Dashboard’s award-winning money management app helps over 200,000 people master their money. The app connects to over 70 financial institutions so users can manage all their accounts in one place to track spend, plan ahead, and achieve their goals.
Money Dashboard keeps the app free for consumers by generating revenue from insightful market research based on anonymised banking data. This gives data clients critical insight into how businesses like Deliveroo or Uber are performing.
Luke Lang, co-founder of Crowdcube, commented:
“Money Dashboard’s vision to help people better manage their money has once again resonated with many of our investors. 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, CEO said:
“We’re absolutely thrilled to have secured this latest round of funding, particularly with the backing of over 3000 people who share our vision. We are now equipped and ready to help people from every walk of life master their money.”
Kerry Sharp, Director of Scottish Investment Bank said:
“Having supported Money Dashboard from an early stage, it is great to see the business raising the funds required to implement the next stage in its growth. The FinTech sector is a key industry in Scotland’s economy and we look forward to continuing to work with the company, both from an investment perspective and through our account management support, to deliver its long-term growth ambitions.”