Open Finance Provider Moneyhub Secures £55m in Latest Funding Round

Data and payments fintech firm Moneyhub has closed a £55m debt and equity funding round, with backing from Lloyds, Legal & General, Shawbrook Bank and Phoenix Group.

The fintech firm announced on Monday that it has secured a further £15 million in funding from leading savings and retirement business Phoenix Group. This funding now completes Moneyhub's largest fundraise to date, totalling £55 million, following the £35 million in funding announced on 24 October 2022 from Legal & General and Lloyds Banking Group, with an additional £5m debt facility provided by Shawbrook Bank, partially subject to regulatory approval. 

Phoenix Group will join existing lead investors Legal & General and Lloyds Banking Group with a minority stake in the business. 

The overall investment will support the acceleration of the ongoing development of Moneyhub's solutions and expedite the internationalisation of its highly scalable and border agnostic technology. 

Samantha Seaton, CEO of Moneyhub commented: "This additional investment from Phoenix Group, following our long-standing commercial relationship with its Standard Life business, is further testament to the growing possibilities the industry sees in Open Data, and the transformational role Moneyhub can play. We are delighted that Phoenix Group has chosen to go even further by investing in the business. 

"I am proud to work with a large team of some of the most talented individuals in the sector that have helped us get to where we are today, and excited for all the possibilities and developments that lie ahead."