Fintech Moneybox Climbs Tech Rankings After 1,399% Surge
Moneybox, a digital wealth management platform that enables retail investors to save and invest through a mobile app, has secured 23rd position in Deloitte’s UK Technology Fast 50, marking its fifth consecutive appearance in the rankings and reflecting the platform’s expanding presence in the UK retail investment sector.
The company, which provides services including stocks and shares ISAs, lifetime ISAs and pension products, recorded revenue growth of 1,399% over the past three years. This growth trajectory coincides with Moneybox surpassing £10 billion in assets under administration (AUA) – a key metric that measures the total value of assets a financial institution manages on behalf of clients.
Deposit growth
The platform's momentum accelerated in the third quarter of 2024, with £615 million in net deposits - representing capital flowing into the platform minus withdrawals - marking a 143% increase compared to the same period in 2023. During this period, Moneybox attracted 72,000 new customers, expanding its user base across various investment products.
This deposit growth occurs against a backdrop of increasing retail investor participation in UK financial markets, with digital platforms capturing a growing share of new investment accounts.
Valuation and profitability metrics
The company's market valuation has reached £550 million, representing an 84% increase since its Series D funding round in March 2022. This valuation growth follows Moneybox achieving its first full year of profitability in 2023, a milestone that distinguishes it from many growth-focused fintech companies.
The platform now serves more than one million customers across the UK, with average AUA per customer increasing by 46% in the previous fiscal year. This metric indicates deepening engagement with the platform's investment products and suggests customers are consolidating more of their investment activity within the Moneybox ecosystem.
Technology infrastructure
The company's proprietary technology stack - referring to the complete set of software components needed to run the platform - has been developed to support an expanding range of wealth management products. This infrastructure enables Moneybox to process increasing transaction volumes while maintaining service reliability.
Ben Stanway, Co-Founder and Executive Chair of Moneybox, says: "Over the past decade, our dedicated team has built a vertically integrated proprietary tech platform and a radically customer-centric experience where people don't have to have wealth to create wealth."
Market position
The wealth management sector has seen increasing competition from digital-first platforms that aim to make investing more accessible to retail customers. These platforms typically offer lower minimum investment amounts and reduced fees compared to traditional wealth managers, who often require significant minimum investments and charge higher management fees.
Moneybox's growth suggests it is capturing market share in this evolving landscape. The platform's expansion comes as traditional financial institutions invest in digital capabilities to compete with fintech challengers.
Customer engagement
The increase in assets under administration per customer suggests Moneybox is successfully cross-selling products across its user base. "Today, we're proud to serve over one million customers, helping them achieve their financial goals and build wealth with confidence. Our customers increasingly demonstrate that they want to use us for their wealth-building needs throughout life," Ben says.
The wealth management market continues to evolve as digital platforms introduce new products and services. Moneybox's growth trajectory suggests it is well-positioned to capture additional market share as retail investors increasingly embrace digital investment platforms.
"We believe Moneybox has a clear pathway to becoming a category-defining business, given the market opportunity, our differentiated focus, and the deeply embedded value in our customer base," Ben says.
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