SEP backs TotallyMoney in further £29m round

The investment is subject to FCA approval. TotallyMoney intends to use the fresh funds to accelerate customer acquisition and build out its technology platform.

SEP declined to disclose how much it contributed to the round.

Previous funding
SEP led a £17.5m funding round in for TotallyMoney in 2011. The deal was sourced proprietarily after SEP spotted the company in the 2010 Sunday Times Tech Track 100. The business had at the time also been looking for funding. SEP took a minority stake in the company following the transaction, which was supported by Media Ingenuity's founders.

Equity for the transaction was provided by the Scottish Equity Partners III fund.

Company
TotallyMoney is an online comparison site focusing on consumer credit offerings. Users can get their personal credit reports and compare a range of services including credit cards, loans and mortgages.

The company is headquartered in London and was founded in 2006.

People
SEP - David Sneddon (partner).
Elliott Advisors - Richard Monahan.

Advisers
Company - Houlihan Lokey (corporate finance); Taylor Wessing (legal).

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• Topics
• Expansion
• UK / Ireland
• Financials
• United Kingdom
• Venture
• Scottish Equity Partners