Participated · Debt Financing · Dec 2022

Moneyhub operates an open finance platform that lets app developers exchange financial data across multiple providers and streamline eligibility, affordability checks and payments. The company has positioned itself as a data and payments integration layer for UK financial services, working to bring its data up to open banking standards and to accept open banking payments on behalf of customers. Moneyhub closed a £55 million debt and equity funding round involving corporate and specialist-bank backers, and previously raised $18 million in early 2021 led by Sir Peter Wood. The October tranche comprised £35 million of equity and a £5 million debt facility, with Lloyds and Legal & General supplying equity alongside specialist bank Shawbrook. Phoenix Group committed an additional £15 million to close out the round and had already been collaborating with Moneyhub on open banking integration. CEO Sam Seaton has suggested the firm could pursue an IPO on London’s stock exchange at some stage, while upcoming UK initiatives such as the pensions dashboard and new consumer-facing transparency rules are expected to drive demand for Moneyhub’s services. Moneyhub is a Briston, UK-based Open Finance data, intelligence and payments platform that provides APIs and white-label products. Led by CEO Samantha Seaton, the platform offers Open Banking and Open Finance data connections, intelligence and payment solutions. Clients can access data, analytics and smart, actionable insights to understand and engage customers. The solution is used by clients including Mercer, Aon, Nationwide and Standard Life. Moneyhub intends to use the funds to accelerate the growth of its offerings and to rapidly expand into new markets and wider industry sectors including wealth, insurance and retail. The company raised a total of $18m in funding.

Participated · Debt Financing · Mar 2021

Olive Jar Digital is a London-based digital consultancy specializing in digital transformation projects. Launched in 2015 by Rajesh Thakrar and Olivia Nixey, the firm helps organizations move away from manual, paper-based processes. It uses data, software and artificial intelligence to build efficient, user-friendly systems and programs, including for talent management. The company works with public-sector clients such as the NHS and the Department for Education and is aiming to expand into the private sector. Financially, Olive Jar received a £6m investment from IW Capital, supported by a £1.5m leverage loan from Shawbrook Bank. IW Capital will maintain majority ownership and the co-founders will be retained following the acquisition.

Led · Equity · Jan 2021

Prolectric Services supplies solar lighting, power and security solutions and a monitoring and control portal for infrastructure, rail and construction projects across Britain. The company serves a solid customer base that includes tier-one firms such as Skanska, Balfour Beatty and Costain Kier, and has worked with Network Rail, Highways England, Persimmon and Taylor Wimpey. High-profile deployments include the Hinkley and Sellafield nuclear sites and equipment used to enable the construction and operation of NHS Nightingale Hospitals during the Covid-19 response. Prolectric provides a green alternative to traditional diesel-fuelled lighting systems and plans to expand that offering. The company recently raised financing to accelerate those growth plans.

Participated · Series A · May 2020

Fly Now Pay Later provides a Buy Now Pay Later (BNPL) platform that lets consumers spread the cost of flights, hotels and other travel expenses over time while merchants receive payment upfront. The company integrates with airlines, online travel agencies and other travel merchants, and has struck partnerships with KAYAK, Malaysia Airlines, Universal Air Travel Plan (UATP) for EU merchants, and the BNPL network ChargeAfter. Management is doubling down on expansion in the United States, citing forecasts that domestic U.S. travel spend will reach $968 billion by 2024 and that BNPL will dominate embedded finance by 2026. Despite pandemic-induced headwinds, the firm continued investing in its technology and partnership network to capture recovering travel demand. Financially, Fly Now Pay Later has secured $172.1 million in debt and equity financing since 2015, supporting its growth and product development. The latest funding round strengthens its balance sheet for further U.S. market penetration and continued product enhancements. No revenue, user or profitability figures were disclosed in the article.

Participated · Debt Financing · May 2019

Stream, founded in 2018 and formerly known as Wagestream, delivers a workplace finance platform that lets employees access earned wages early and use integrated tools for saving, budgeting, and financial planning. By partnering directly with employers, the company positions its services as low-cost alternatives to high-interest short-term credit products. Stream now works with more than 2,000 employer brands and serves about four million workers across the UK, Europe, and the United States. According to the company, members have collectively saved over $200 million by avoiding high-cost financial products. The platform has evolved to include savings pots, budgeting guidance, and affordable credit options, and Stream plans to add pensions next. Management intends to use new capital to deepen its product suite and accelerate U.S. and broader international expansion. To date, Stream has raised $228 million in total funding from a roster of more than 75 investors.