Background

  • Moneyhub is a market leading Open Finance, Open Data and payments platform 

  • Moneyhub helps clients within financial services, retail, and telecoms by creating personalised products and services reaching 150 million end-users across the UK and worldwide

  • Moneyhub was seeking funding to support the continued acceleration of growth across its spectrum of market leading Open Banking, Open Finance and Open Data solutions following an initial GBP 40M investment from Lloyds Banking Group, L&G and Shawbrook in October 2022

Process

  • DC Advisory (DC) was engaged by Moneyhub to act exclusively as its corporate finance adviser to provide financial and strategic advice on its funding round
  • DC ran a three stage process:
    • Secured GBP 5M in flexible venture debt
    • An initial GBP 35M from L&G and Lloyds in October 2022
    • Completed the round with an additional GBP 15M from Phoenix Group
  • DC advised Moneyhub on all interactions with potential investors and lenders, including process strategy and tactics, sector insight, and close support in negotiation and transaction documentation to ensure the investment from Phoenix was secured

Outcome

  • On 7 December 2022, Phoenix completed its investment of GBP 15M in Moneyhub. This funding now completes Moneyhub’s raise, totalling GBP 55M, partially subject to regulatory approval
  • This transaction will allow Moneyhub to deliver further transformational expansion of its proposition, extend its capabilities and improve its global client reach
  • The transaction demonstrates the continued strength of DC’s leading corporate finance and debt advisory capabilities, and advising a true market leader in Open Banking, Open Finance and Open Data adds to our sector credentials in the fintech and digital Financial Services space

“Working with the DC team has been a delight and on behalf of me and my exec team, I thank them for their outstanding service and professional advice. From the very beginning, the DC team has worked closely with my team in true partnership. The alignment in values and their unwavering dedication has made the process enjoyable and smooth, leading to a great result for all parties. They really took the time to understand the business before considering appropriate investment partners. Moneyhub has grown significantly in the last few years, and we are delighted with this latest funding round which will allow us to continue on our trajectory to help our clients and their customers achieve their financial goals sooner.”

Samantha Seaton, CEO, Moneyhub

“It has been a genuine pleasure to work alongside Moneyhub and Phoenix Group on their new investment partnership, expanding on the exceptionally strong commercial relationship which they already enjoy. Being able to bring together a trio of some of the largest Financial Services groups in the UK – L&G, LLoyds Banking Group and Phoenix Group – as new investors and enhanced commercial partners is testament to the quality and strength of the Moneyhub team and their position at the forefront of the rapidly-expanding world of Open Finance, Open Banking and Open Data. The future is incredibly exciting.”

Andrew Claymore, DC Advisory, Financial Services