Money Dashboard, the Edinburgh-based personal finance platform, has said it raised a further £2.5 million between August and November last year, bringing total funding to £5.2m in 12 months.
The funding, led by private equity manager Calculus Capital, included investment from Ariadne Capital, Par Equity, and The Scottish Investment Bank, and adds to the initial £2.7m investment made in November 2013.
Over the last two years Money Dashboard has grown its user base by more than 300 per cent, equating to hundreds of new users a day, and now has £10billion of transactions on the platform. In April 2014 the company was selected to join the inaugural cohort of the London Stock Exchange's two-year ELITE mentoring scheme for high-growth private UK companies.
The new investment will be used to further enhance mobile usability and budgeting features, as well as building market position in association with Zag, part of global marketing and advertising agency BBH.
Gavin Littlejohn, chief executive, said: "We have grown rapidly over the last few months, as more and more people experience how easily they can take control of their finances when and where ever it suits them - whether that's while sitting in front of the TV or on the bus to work. This latest round of funding reflects the huge potential of the business and we are really excited about expanding our services and reach over the coming months."
Richard Moore, Calculus Capital investment director, said the business had "a strong vision of how the market will continue to develop and we believe in that vision."
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article