London FinTech Flagstone raises $15m
by Startacus Admin
London FinTech Flagstone reveals major VC investment news...
London based FinTech Flagstone, developer of the UK’s largest cash deposit marketplace, has raised $15m in venture capital in a round led by OMERS Ventures and supported by existing investors including Kindred Capital and Moneysupermarket Group plc.
Flagstone was founded in 2013 and has grown rapidly to become the leader in the UK cash deposit platform market having transmitted more than £5bn in deposits since 2015. The business provides individuals, wealth managers, businesses and charities with access to hundreds of cash deposit accounts, many with market leading or exclusive interest rates, from 44 banks including high street names such as HSBC and Nationwide as well as a host of challenger banks.
Flagstone’s cash deposit marketplace enables clients to increase their interest income and manage their risk through diversification and greater use of FSCS protection. Flagstone provides its cash deposit platform to clients of Revolut in the UK and is already the exclusive cash deposit platform for clients of Charities Aid Foundation, St. James’s Place, Quilter Cheviot, Tilney Group and many other leading wealth management firms.
%20and%20Simon%20Merchant%20(R)%20Founders%20Flagstone.jpg "Andrew Thatcher")
Simon Merchant, Co-Founder and Co-Managing Partner of Flagstone, said:
“Raising growth capital from leading investors such as OMERS Ventures is a testament to the strength of our business model and the great work that the Flagstone team does every day to support clients with protecting their cash deposit investments. This new financing will support the acceleration of our plans to extend our penetration of the UK market to new customer segments.”
Harry Briggs, Managing Partner for Omers Ventures in London, said:
“The Flagstone team impressed us from the start. The founders know this market inside out and have quietly built the runaway market-leader in the UK by addressing systemic issues in the banking system by using smart technology to help empower users to earn more interest income and reduce risk. In these uncertain times, everyone – households, small businesses, charities – is anxious about cash, and Flagstone helps people make their money work harder for them at the click of a button. We are very much looking forward to working with the team.”
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
.jpeg)
If you're considering starting up an online business, here are a few of the key ways that you can intensify what you do to sell more
If your business is going to survive, here are some of the key areas where compliance is essential and where negligence could cost you...
Justin Nihiser, CEO of kids coding specialist, Code Ninjas, is about to discuss, there are multiple advantages to starting a business later in life
The lowdown on Cash Flow Revolution, the new report from Asto, outlining the key issues currently being faced by small businss owners in the UK
Recruiting can be a tad easier if you focus on these key areas when you're reviewing a Candidate's CV or resume
Kind Bag is a startup that’s on a mission to “combat plastic pollution accelerating the use of recycled material in the fashion industry”.
.jpeg)
Beam, the training platform for homeless people is announced as the best emerging tech startup to bring positive social change through technology
Businesses are adapting as it appears as though instant online payments seem to be the way forward, in all sectors and markets
The Hertfordshire-based startup that's created a plant-based substitute for people who can’t, don’t, or won’t eat eggs
The Femtech startup that’s transforming healthcare for women with its AI-driven app to connect users with personalised daily wellness solutions
Published on: 1st May 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- New report reveals British business owners are craving financial control 19th Nov 2020 The lowdown on Cash Flow Revolution, the new report from Asto, outlining the key issues currently being faced by small businss owners in the UK
- Beauty company run by entrepreneurial teen supports #BeautyBacked campaign 16th Nov 2020 The 14-year old entrepreneur who started a beauty business this year and is now supporting the #BeautyBacked campaign to help those adversely affected by the latest lockdown
- New Work Mindset Report reveals 88% of UK want to be in the office at least once a week 12th Nov 2020 Huckletree, the leading Coworking accelerator launch new report revealing the experiences and learnings of working from home and the shift in attitudes to returning back to offices
- Heroes secures major funding to supercharge leading Amazon brands 11th Nov 2020 Heroes, a new UK-based ecommerce business, focused on acquiring and scaling high performing Amazon businesses closes $65M in seed funding
