Flagstone, a UK-based cash account marketplace, has secured £12m ($14.9m) in a series B round featuring consumer financial comparison service Moneysupermarket, Sky News reported on Friday.
Omers Ventures, the venture capital arm of Canada-based pension fund Omers, also took part, as did venture capital fund Kindred Capital.
Founded in 2013, Flagstone runs an online platform where clients such as wealth managers and companies can increase the rate of interest on their cash deposits by dividing the money across a choice of more than 40 financial institutions.
The platform has to date processed more than $6.2bn worth of deposits, with the funding going toward further UK expansion.
Moneysupermarket and Kindred Capital joined equity investment platform VentureFounders in a $14.3m round for Flagstone in May 2019 also backed by several unnamed private investors.