Moneybox raises £14m in latest round

Moneybox, a savings and investment app, has raised £14 million in a Series B funding round that was led by Eight Roads, the proprietary investment arm of Fidelity International.

Existing investors, including Oxford Capital Partners and Samos Investments, also participated in the round, which brings the total amount raised to £21.3 million.

The company, which launched in 2016 and claims it has over 100,000 users, lets users save through a combination of card transaction round ups, weekly deposits, payday boosts and one-offs. Customers can choose from three simple starting options - cautious, balanced and adventurous - which invest in tracker funds run by Vanguard, Henderson and BlackRock. Their aim is to make investing clear, simple and easy to achieve.

The new funding will be used to increase the workforce and build new products. 

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