Moneyhub announced its funding round of $18mn lead by Sir Peter Wood

By Joy Dumasia

Moneyhub, the Open Finance data, intelligence and payments platform, announced its most significant investment round, a total of $18mn, to fuel its rapid expansion into new markets. 

Sir Peter Wood, the British entrepreneur and innovator, leads the investment round via a newly formed investment vehicle SPWOne. SPWOne invests and supports a range of businesses across their lifecycle. Sir Peter Wood and his team have an enviable track record of substantial value creation domestically and overseas. 

Moneyhub has already established a market-leading product in the enterprise market in the UK and now boasts clients including Mercer, Aon, Nationwide and Standard Life. The business is growing in broader industry sectors, including wealth, insurance and retail, and the fresh injection of capital will accelerate growth. 

The Moneyhub platform provides the suite of Open Banking and Open Finance data connections, intelligence and payment solutions through APIs and white-label products. It means clients can access data, analytics, insights and understand and engage with their customers in all sectors.

Sir Peter Wood said: “At SPWOne, we are committed to investing in success. 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 become a global leader in the open finance space. We are delighted to be supporting Sam and her team at such an important stage in the company’s development.”

Recently, IBS Intelligence reported that Moneyhub, the Open Banking and Open Finance data, intelligence and payments platform, is one of the first Open Banking providers in the UK to connect to Triodos Bank, the financial and banking service provider savers, investors and organisations.