Money Dashboard to triple staff on £4.6 million fund raise

Money Dashboard to triple staff on £4.6 million fund raise

Edinburgh-based PFM app Money Dashboard has raised £4.6 million in the biggest fintech raise on crowdfunding platform Crowdcube this year.

Money Dashboard reached its initial target of £1.5 million in just forty-five minutes, topping out at £3.6 million with the support of 3,300 crowdfunders. Additional investment came from existing backer Calculus Capital and Scottish Investment Bank, bringing the total funding round to £4.6m.

The Money Dashboard app connects to over 70 financial institutions, enabling users to view and manage all of their financial affairs from a single platform. The firm also has a relationship with Coinbase, providing a cryptocurrency spin alongside traditional financial products.

Launched in 2010, the firm currently serves more than 200,000 customers, and has laid out a strategic plan to reach one million users by 2024. Free-to-use, Money Dashboard generates revenue from using anonymised banking data to produce market research and insights on financial behavioural trends.

The funding will be used to triple the firm's headcount from 20 to 60 staff and to further develop the app.

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