UK-based open finance platform Moneyhub secured $18m in funding from investors including financial services firm Nationwide Building Society yesterday.
The round was led by SPWOne, the investment vehicle for entrepreneur Peter Wood, and also featured undisclosed existing investors. Nationwide participated through corporate venture capital unit Nationwide Building Society Ventures.
Founded in 2011, Moneyhub aggregates financial data from multiple accounts into one single platform to offer its clients a comprehensive view of their overall financial health.
Clients can access data, analytics and insights through Moneyhub’s platform to optimise their understanding of their business and their engagement with customers. Its client base includes Nationwide, Mercer, Aon and Standard Life among others.
The funding will boost the company’s expansion in Europe and accelerate its growth, primarily across the wealth, insurance and retail sectors. Moneyhub had previously raised an undisclosed amount of funding from Nationwide Building Society Ventures in November 2018.