2016 the year of savings disruption!
Moneybox, a digital savings and investment app that rounds up spare change from card transactions into a stocks and shares ISA, has raised $3 million from Betfair and Ocado investor Samos Investments and a group of angel investors. The UK-based company, set up last year by entrepreneurs Charlie Mortimer and Ben Stanway, says the funding will be used to expand the core team and for the development of the Moneybox app ahead of its launch in early 2016. In addition, the company announced that Daniel Godfrey, former chief executive of The Investment Association (IA), the representative body for the UK’s £5.5 trillion investment management sector, has joined as an advisor. Godfrey is advising the company on its regulatory authorisation process and product design.