Edinburgh-based personal finance platform Money Dashboard has completed a £2.5m funding round led by Calculus Capital.
With this latest investment, which also included Ariadne Capital, Par Equity, and The Scottish Investment Bank, the company has raised £5.2 million in the last 12 months.
Money Dashboard collects data from all of a user’s bank accounts to discover where money is being spent, and therefore where they could save money. The company will use the funding to enhance the user experience of the app and add additional budgeting features that will use the data collected from user’s accounts to help them save even more.
“This year we are are investing in developing the app and features further to ensure that Money Dashboard users have an even greater understanding of where their money is going and are better placed to set and reach their financial goals,” Money Dashboard CEO Gavin Littlejohn told PaymentEye. “We’re now developing really relevant money-saving tips to enable them to save even more money.”
The personal finance app’s user base has grown by more than 300 per cent over the last few years, equating to hundreds of new users signing up every day. It now deals with $10 billion in transactions on its platform.
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