Oxford Capital achieves up to 17x return on Moneybox EIS investment
Oxford Capital, the Oxford-based venture capital firm, has sold part of its Enterprise Investment Scheme (EIS) investment in Moneybox, the award-winning savings and investment platform, achieving a return of up to 17x.
The return on investment comes as Apis Global Growth Fund III, a prominent investor in high-growth, impactful global financial services and technology businesses, and Amundi, Europe’s leading asset manager, join Moneybox’s investor base.
Together, their combined investment is worth c.£70 million and will mainly be facilitated through a secondary share sale, which includes some of Oxford Capital’s shares in Moneybox.
Oxford Capital retains the majority of its shares, with Moneybox’s valuation now £550 million – an 84% increase since its Series D round in March 2022, when they raised £35m, led by Fidelity International Strategic Ventures, existing investors Oxford Capital, CNP, Burda and Breega, plus new investor Polar Capital. Oxford Capital remains one of the largest shareholders in Moneybox.
Moneybox achieved its first full year of profitability over a year ago and recently surpassed £10 billion in assets under administration (AUA). In the last fiscal year alone, the business has successfully scaled revenues by 168% and AUA per customer by 46%.
Moneybox supports more than 1 million customers across the UK to save, invest, buy their first homes, and plan for a comfortable retirement. It is poised for continued success, driven by a clear mission to help people achieve their financial goals and build wealth with confidence.
Oxford Capital has backed Ben Stanway and Charlie Mortimer, the founders of Moneybox, since the company’s earliest stages. Oxford Capital led Moneybox’s seed round in 2016, before it had any customers, and has invested in every funding round since.
Oxford Capital’s initial investment was via its Oxford Capital EIS Fund, which specialises in investing in early-stage UK technology companies. As Moneybox grew, Oxford Capital offered access to later rounds to members of its Co-Investor Circle, enabling them to invest directly into the business alongside institutional shareholders.
David Mott, founder partner of Oxford Capital, said: ‘We are thrilled with the brilliant success that Ben Stanway, Charlie Mortimer and their team are making of Moneybox. The company is backed by a great syndicate of investors and the £550 million valuation reflects the high-quality of the business. We continue to back Ben and Charlie as they scale up Moneybox to build one of the largest wealth management platforms in the UK. Moneybox still has a long way to go to realise its full potential, so taking some profit at this stage makes sense for our clients whilst leaving the majority of their investment to run for the longer term.’
Ben Stanway, Co-Founder and Executive Chair of Moneybox, commented, “We are incredibly proud of the journey we’ve been on with Oxford Capital, from the very early days of Moneybox through to this exciting milestone. Their support and belief in our vision from day one has been invaluable, and we look forward to continuing our close partnership as we move into the next stage of our journey.”
