Open banking business Moneyhub has raised £35mn funding and a £5mn flexible debt facility.
In Brief:
Moneyhub offers open finance, open data and payments solutions.
Leading investors in the round Lloyds Banking Group and Legal & General will take minority stakes in the business.
Meanwhile, Shawbrook Bank has provided a £5mn flexible debt facility.
What does this mean?
Notably, Moneyhub is describing these investments as ‘kicking off’ its current funding round. Lead investors Lloyds and L&G (the latter still subject to regulatory approval) will take minority stakes in the business and are looking to use Moneyhub’s tech to support strategic goals.
