Money Dashboard provides a mobile app that lets users view and manage all of their financial resources from a single dashboard, automatically categorizing transactions and enabling budget plans. The product visualizes spending and offers projected income, expenditure and balances so users can plan their finances. The company partners with over 70 financial institutions and integrates with crypto trading platform Coinbase. Money Dashboard currently serves more than 200,000 customers. Launched in 2010 and led by CEO Steve Tigar, CDO Max Thomas and CTO Tim Shields, the company plans to use new funding to expand operations, broaden its business reach and further develop the app. It is based in Edinburgh, Scotland, UK. Money Dashboard is a personal finance assistant app that pulls in bank statement data from any UK bank, automatically organises spending and provides budgeting and forecasting tools to give users a TrueView of their finances. First released in Edinburgh in 2010, the company says it has a 70% market share and won the 2017 British Bank Award for best personal finance app. The app aims to address a perceived gap in consumer budgeting: the article cites that 32m UK adults bank online while 19m report not having a budgeting approach that works. The company launched a crowdfunding campaign on Crowdcube in July and raised over £1m to fund team expansion ahead of Open Banking legislation taking effect in January 2018. Management said they are overfunding with a view to growing faster and have strong support from their community of users. Launched in 2010, Money Dashboard is a free personal finance app that consolidates multiple bank and credit card accounts into a single, central dashboard. The app automatically tags items in online statements (e.g., 'grocery' or 'travel') to give users an aggregated view of expenditure and income by category. Its USP is providing a consolidated, cross-account view that differs from individual banks' mobile apps. The company monetizes by recommending related financial products to users and receiving kick-backs for successful switches. It also sells anonymous spending data and trends to market research companies. The startup secured an additional $3.7M in funding (closed last November), bringing its total fundraising to $8.3M over the past year. Money Dashboard is a UK-based smart account-aggregation service that automatically analyses online banking statements to tell consumers how much they spend across categories. It aggregates current, savings and credit card accounts in one read-only place and provides charts, spending forecasts, a ‘Clear Cash’ figure and low-balance alerts. The service is free to consumers and displays visualisations to highlight potential savings. The company generates the majority of its revenues by harnessing user data to offer switching services (funnelling users toward energy, broadband, TV packages, loans and other services). Money Dashboard has been operating since 2010. It has secured a £2.7 million ($4.4 million) investment round led by Calculus Capital, and ZAG (a BBH venture-led branding agency) has become a shareholder and will handle launch and marketing of new products. The firm plans to develop new services, including launching mobile apps. Money Dashboard provides a consumer-facing online dashboard that aggregates balances and transactions from online bank accounts and credit cards, powered by Yodlee. The product lets users track and categorise spending, set budgets, and receive email alerts for budget breaches or impending overdrafts; the company says it will add suspicious-transaction alerts in the future. It exited beta and launched to consumers after running a public beta since December 2009. To date, 10,000 users participated in the public beta and the service remains free. The startup plans to monetize by upselling financial products via its “Ways to Save” pages and receiving kickbacks from any sales. Money Dashboard is funded to the tune of £2m and says more funding will be injected primarily to boost marketing; the company is led by founder and CEO Gavin Littlejohn and positions itself as independent of banks.

Total raised

$20M

Funding rounds

6

Latest round

Equity

Latest activity

Aug 2019