UK Fintech Moneybox Reports Solid Revenue Growth and First Profitable Year

UK Fintech platform Moneybox is reporting substantial growth in revenue along with other key business developments as highlighted in this latest update shared by the team at the Web3 and Fintech Foundation.

Key Figures from Moneybox as follows:

• Revenue: £77.2M (up from £28M in 2023)
• Profit before Tax: £26.5M (compared to a loss of £4.1M in 2023)
• Valuation: £550M following a secondary sale

Since its launch in 2015, Moneybox has become a leading UK platform for savings and investments. Its financial growth in 2024 is remarkable, with revenue surging by 169%, and the company turning profitable for the first time.

One significant factor behind this growth appears to be rising interest rates, which fueled a dramatic increase in revenue from their Savings product—jumping from £18M in 2023 to £63M in 2024, now accounting for 81% of the company’s revenue.

Can Moneybox Sustain this Level of Business Growth?

However, sustaining this level of revenue could be challenging if interest rates decline.

Moneybox also saw its Assets under Management triple, reaching £10 billion, up from £3.5 billion at the end of 2022. This financial performance not only solidifies Moneybox’s status as a leading fintech in the UK but also marks a major profitability milestone in the sector.

What Is Moneybox Anyways?

Moneybox is a popular mobile app that allows users to invest small amounts of money into various assets, such as stocks, funds, and other investment vehicles. The app aims to make investing more accessible and affordable for everyone, especially younger generations.

With Moneybox, users can:

1. Invest as little as £1 (or your local currency equivalent) into a variety of assets.
2. Set up regular investments, even with small amounts.
3. Choose from a range of investment options, including stocks, funds, and more.
4. Monitor their investments and track performance.
5. Learn about investing through educational resources within the app.

Moneybox operates in the UK and is regulated by the Financial Conduct Authority (FCA). It’s often referred to as a “micro-investing” or “robo-investing” platform, making it easy for anyone to start investing with minimal effort and cost.

Please note that investing always involves some level of risk. It’s essential to understand the terms, conditions, and risks before investing through Moneybox or any other platform.