Livingbridge backs investment platform Munnypot

The deal was completed by Livingbridge's venture arm, Livingbridge Growth, which invests up to £5m in equity per company. Capital for the transaction was drawn from its VCT. Munnypot will use the investment to further develop its technology.

Company
Established in 2015 in West Sussex, Munnypot is an online investment platform. It uses an automated chatbot to make investment decisions for customers, selecting funds based on their appetite for risk. It then allows the investor to track their investment.

Munnypot was founded by Simon Redgrove, Andrew Fay and Simon Chisholm. Redgrove and Fay also founded Cavanagh Group, which was acquired by Close Brothers in 2011.

People
Livingbridge – Steve Cordiner (investment director).
Munnypot – Andrew Fay (CEO).

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• Topics
• Early-stage
• Financials
• UK / Ireland
• Livingbridge
• United Kingdom