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  • Investing app Moneybox has raised a £30 million ($38 million) Series C funding round. 
  • Moneybox lets investors put their cash into a variety of funds.
  • The startup's funding round was jointly led by Eight Roads and new investors CNP, alongside VC fund Breega. 
  • "Saving and investing for the future is always somewhere on the to-do list for most of us, but the last few months have put this more front of mind than ever," Ben Stanway, Moneybox CEO and cofounder told Business Insider. "Speaking to customers, many of them have realised the importance of having a nest egg or emergency fund set aside for when the unexpected occurs."
  • Visit Business Insider's homepage for more stories. 

London-based fintech startup Moneybox has raised a £30 million ($38 million) Series C funding round. 

Moneybox, founded in 2016, allows users to invest in a variety of funds, lifetime ISAs, and pensions and has more than 450,000 customers. 

The investment app's funding round was jointly led by Eight Roads and new investors CNP, alongside VC fund Breega.

Moneybox's raise was completed at double the valuation of its 2018 Series B funding round and takes its total funds raised to date to £51.3 million. 

"Saving and investing for the future is always somewhere on the to-do list for most of us, but the last few months have put this more front of mind than ever," Ben Stanway, Moneybox CEO and cofounder told Business Insider. "Speaking to customers, many of them have realised the importance of having a nest egg or emergency fund set aside for when the unexpected occurs."

Moneybox said it now has over £1 billion in assets, and is growing at £100 million per month.

The company will also take part in its first equity crowdfunding, via Crowdcube, this month with a minimum target of £1 million.

Wealth management apps have seen a surge during the coronavirus, with trading and investing apps seeing an early download boom in the initial days of the UK's lockdown. Moneybox claims it grew its customers by 121% in the year since July 2019.

"Securing this funding enables us to continue to build the products, tools and technology to help people achieve their goals easily - whether it's buying a house, saving for retirement or just a rainy day," Stanway added. "In addition to scaling our amazing team of 120, the funding will be used to supercharge our growth and further execute our mission to help everyone save and invest for their future."

Check out Moneybox's (redacted) Series C pitch deck below:

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