![]() ![]() In this time, the team has also doubled to c.300 people. Since its Series C fundraise in July 2020, AUA has more than tripled (+356%), AUA per customer has increased by 107%, and revenue has grown by 340%. The platform currently supports 800k+ customers and has more than £2.9bn in assets under administration, growing by more than >100% YOY. Since its launch in 2016, Moneybox has seen exponential growth. The funds will help build the Moneybox brand, grow its customer base, introduce financial planning services and launch an enhanced investing proposition focused on long-term wealth generation. Moneybox is on a mission to help people build wealth with confidence and provides a range of products and services across saving, investing, home-buying, and retirement, all within one easy-to-use app, supported by award-winning technology and customer support. The investment brings the total amount of funds raised to date, to £95.1 million. Despite the diminished funding activities for startups globally over the past year, valuations of numerous larger startups have stayed constant.April 4th 2022: Moneybox, the award-winning digital wealth manager, has secured £35m in a Series D funding round, led by Fidelity International Strategic Ventures, a dedicated venture capital team at Fidelity International, alongside existing investors Oxford Capital, CNP and Breega, as well as new investor Polar Capital. The current wave of valuation cutbacks sheds new light on the impact of deteriorating worldwide economic conditions on fledgling startups. ![]() The firm was valued at as high as $15 billion in secondary markets late 2021, according to people familiar with the matter. Reddit, which has raised over $1 billion to date, counts Sequoia Capital and Andreessen Horowitz among its backers. This devaluation, part of a broader trend that has hit a variety of growth stage startups across the globe in the past year, raises uncertainties about whether Reddit will maintain its initial intent to reportedly go public at a valuation around $15 billion. ![]() Fidelity, also an investor in Indian startups such as Meesho and Pine Labs, has effected considerably less dramatic valuation cuts in these holdings in the past two years. Nevertheless, it merits pointing out that Fidelity has persistently implemented minor reductions in the worth of Reddit’s shares in the ensuing months. The substantial markdown of Reddit’s value by Fidelity predominantly occurred by the previous year. Fidelity - which has marked down its stakes in many startups including Stripe and Reddit in recent quarters - also slashed the value of its Twitter stake, it disclosed in the filing, valuing Elon Musk’s firm at about $15 billion. Reddit was valued at $10 billion when the social media giant attracted funds in August 2021. That’s down 41.1% cumulatively since August 2021 when the asset manager spent $28.2 million to acquire the Reddit shares, according to disclosures the firm has made in its annual and semi-annual reports. Fidelity, the lead investor in Reddit’s most recent funding round in 2021, has slashed the estimated worth of its equity stake in the popular social media platform by 41% since the investment.įidelity Blue Chip Growth Fund’s stake in Reddit was valued at $16.6 million as of April 28, according to the fund’s monthly disclosure released over the weekend.
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