UK PFM start-up Money Dashboard raises £2.7 million funding

UK PFM start-up Money Dashboard raises £2.7 million funding

Calculus Capital has led a £2.7 million funding round in UK-based personal financial management start-up Money Dashboard.

Launched in 2010 by serial entrepreneur Gavin Littlejohn, and chaired by former Tesco Personal Finance chief Stuart Sinclair, Money Dashboard is modelled on US website Mint.

Developed as a Rich Internet Application and using data and account aggregation technology from Yodlee, the free service gives users an overview of their balances and transactions from multiple online bank and credit cards brands in one secure view.

At the time of its launch in 2011, Money Dashboard had raised £2 million of funding from business angels with experience of the retail finance sector and from investment outfit Par Equity.

Money Dashboard says it will use the new round of funding to expand its user base and develop a new range of mobile apps.

Susan McDonald, chairman of Calculus Capital, says: "There are a number of aggregation services now emerging in the UK but Money Dashboard is the most advanced we have seen and we believe it is best placed to succeed."

Among the new shareholders brought on board is branding agency Zag, which will help the firm with its market positioning and creative advertising strategy.

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