Moneyhub Obtains $18 Million Investment to Drive Expansion
Fazzaco learned that Moneyhub, a market-leading Open Finance platform, has raised $18 million to fuel its rapid expansion into new markets.
The investment was led by Sir Peter Wood, founder of insurance disruptors Direct Line and Esure. His investment is via a newly formed investment vehicle, SPWOne.
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The Open Finance platform will use the investment to expand into wealth, insurance and retail sectors, as well as extend its European presence.
The Moneyhub platform provides Open Banking and Open Finance data connections, intelligence and payment solutions through APIs and white-label products. In the UK, Moneyhub’s clients include Mercer, Aon, Nationwide and Standard Life.
Sir Peter Wood commented: “Open Finance is a permanent technological revolution, fundamentally changing the way businesses interact with their customers. I believe Moneyhub is an outstanding innovator led by a strong management team and is well positioned to be a global leader in the open finance space.”
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