Money Dashboard's award-winning app allows users to connect all their accounts in one place to track spend and plan ahead. The company generates revenue from insightful market research, keeping the app free-to-use for those who need it. Our next phase of growth is to lead the business to profitability.
Our award-winning brand is now an established market leader, built on a proprietary state-of-the-art Open Banking platform with 60+ connections to financial institutions from Clydesdale to Coinbase. This allows users to connect all their accounts in one place to track spend, plan ahead and achieve their goals.
We generate revenue (£4.3m to date - May 20-Jan 21 rev £1m EBITDA -£1.6m) from insightful market research based on anonymised banking data, giving our market research clients critical insight into how businesses like Deliveroo or Uber are performing in real-time. We count some of the world’s leading investment managers, retailers and consultancies as clients.
This not only keeps the app free to use, but it means our app is a spam-free zone: no adverts, no daily deals, and no aggressive cross-selling of savings & investment products.
Covid19 has highlighted the fragility of individual finances and has been a catalyst for growth. In January, we acquired a record 11,000 new activated users (£2.50 CPA). However, Covid19 has also encouraged us to focus on what we know works: keeping the app free for those that need it, and providing data driven insight to those that want it.
This focus is paying dividends. Our new feature "Spending Plan" was awarded a £125,000 grant from Nesta as part of their Rapid Recovery Challenge. Our next phase of growth is focussed on hitting profitability.