Moneybox, a London-based savings and investment platform, has raised £35 million ($49 million) in Series D funding to help grow its customer base and introduce new financial planning services, Tech.eu wrote Monday (April 4).
It will also see a rollout of “an enhanced investing proposition.” Moneybox’s services offer financial help for individuals looking to save, invest, plan for retirement or make large purchases, such as buying a home.
“Our mission is to help people build wealth with confidence so they can enjoy life today and tomorrow,” said Moneybox co-founder Ben Stanway. “This new round of investment enables us to create even better services to help our customers succeed across their home-buying, retirement, savings and investing missions.
“By continuing to focus on the large and under-served mass market we believe we are on a path to creating the U.K.’s category-defining wealth platform.”
The round was led by Fidelity International Strategic Ventures, an existing investor, and new investor Polar Capital also participated.
PYMNTS wrote that paychecks have been stretching somewhat thin as of late, with less liquidity. The report noted that the average American’s monthly expenses have gone up by around $500 — and they’re still rising.
Related: In Paycheck to Paycheck Economy, Some Mull Selling Their Home and Leasing It Back
That has led some to consider how to deal with their home equity, which can be a financial lifeline for various individuals and families facing difficulties.
Some individuals who want to get the money out of their home have turned to a program called Sell and Stay from EasyKnock, in which the property is sold to that company and the company leases the home back to the former owner, using prevailing market rental rates.
This will let the tenant repurchase the home later at a previously-agreed price, or request that the company sell the home based on market value and get the proceeds from the sale, minus the amount EasyKnock paid in connection with the home and other fees.
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