- Sir Peter Wood, founder of the technology-based insurance disruptors Direct Line and Esure, is the lead investor in Moneyhub’s funding round via a new investment vehicle “SPWOne”
- Funding will fuel expansion into wealth, insurance and retail sectors as Open Finance and Open Data become essential
- Moneyhub will fast-track its market-leading proposition further into Europe
Moneyhub, the market-leading Open Finance data, intelligence and payments platform, today announces its largest investment round to date, a total of $18m, to fuel its rapid expansion into new markets.
Sir Peter Wood, British entrepreneur and innovator, is leading the investment round via a newly formed investment vehicle SPWOne. SPWOne invests and supports a range of innovative businesses across their lifecycle. Sir Peter Wood and his team have an enviable track record of substantial value creation both domestically and overseas.
This latest funding builds on the previous investment round which included Nationwide Building Society Ventures. Notably, all initial investors have participated again in this round, showing their commitment and confidence in Moneyhub’s trajectory.
Moneyhub has already established a market-leading product in the enterprise market in the UK, and now boasts clients including Mercer, Aon, Nationwide and Standard Life. The business is growing in wider industry sectors, including wealth, insurance and retail, and the fresh injection of capital will allow acceleration of growth. At the same time, it will also power Moneyhub’s expansion in the sizable and lucrative European landscape.
These important developments reflect Moneyhub’s heartfelt ambition to position enterprise clients as leaders in their own markets. This demands continuous innovation, using the power of Open Finance and Open Data to create transformational opportunities for them to build closer relationships with their customers and successfully evolve their businesses.
The Moneyhub platform provides the most comprehensive, agile and robust suite of Open Banking and Open Finance data connections, intelligence and payment solutions through APIs and White-label products. This means our clients in all sectors can access data, analytics and smart, actionable insights, and achieve far greater understanding and engagement with their customers – and can therefore deliver unique hyper-personalised customer experiences that create a true value exchange based on trust.
Sir Peter Wood, said: “At SPWOne, we are committed to investing in success. Open Finance is a permanent technological revolution, fundamentally changing the way businesses interact with their customers. I believe Moneyhub is an outstanding innovator led by a strong management team and is well positioned to be a global leader in the open finance space. We are delighted to be supporting Sam and her team at such an important stage in the company’s development.
Samantha Seaton, CEO Moneyhub comments:
“I am so excited to have Sir Peter’s backing for the next phase of the Moneyhub journey. It is incredibly rewarding to be able to deliver results to both investors and clients in this truly transformational landscape. It is a fantastic vote of confidence from Sir Peter, and his team, who are renowned for foreseeing game-changing growth opportunities - and a ringing endorsement of our team and our strategy for applying new technology where the rules of engagement have been turned upside down.”
1Simon Torrance https://www.linkedin.com/pulse/embedded-finance-game-changing-opportunity-incumbents-simon-torrance?trk=public_post-content_share-article_title
