# Oval Money

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/oval-money

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.ovalmoney.com
- Total disclosed funding: $14M
- Latest round: Series A (Feb 28, 2020)
- Investors on record: 5

## About

Oval Money Ltd. is a UK-based financial technology company that provides innovative solutions for personal savings and investment management, helping users achieve their financial goals through a user-friendly digital platform.Founded in 2016 in London, UK, Oval Money Ltd. specializes in enhancing personal savings and investment management through its digital platform. The founders, Benedetta Lucini and Victor Engels, have previously established other ventures. The company recently raised GBP 2.230 mn in a Series A funding round, with investors including Intesa Sanpaolo and Neva, bringing the total amount raised to GBP 2.230 mn and the current valuation to GBP 57.510 mn. Oval Money Ltd. has completed 8 deals, with the most recent on May 14, 2021, when Monecor (Europe) Limited agreed to acquire the company from Eurizon, Intesa Sanpaolo, and Neva.Oval Money specializes in innovative financial technology solutions aimed at enhancing personal savings and investment management. Their core offerings include a digital platform that enables users to manage their savings and investments efficiently, streamlining the process of setting financial goals and tracking progress. Services cater to individual consumers seeking to optimize their financial health and small businesses aiming to enhance cash flow through smart savings strategies. The platform facilitates automated savings plans, investment portfolio management, and financial education resources, primarily marketed in key European markets such as Italy, Spain, and Portugal.In 2019, Oval Money reported a revenue of GBP 313,536.1 with an EBITDA of GBP -4,173,082.8. The revenue model is structured around subscription-based services, allowing users to pay for access to premium features, advanced investment tools, personalized financial insights, and tailored savings recommendations. This model establishes a recurring revenue stream, complemented by partnerships with financial institutions for additional revenue opportunities.Oval Money plans to enhance its financial saving solutions following the acquisition by Monecor (Europe) Limited. The company aims to expand its product offerings and improve user engagement. Specific plans include launching new features designed to further streamline savings and investment management. The acquisition will support these initiatives by providing enhanced resources and backing to drive growth in their existing markets, with a focus on expanding into additional European regions by the end of 2022.

## Funding rounds

- Series A, Feb 28, 2020, $2.9M — Intesa Sanpaolo, Neva
- Series A, Oct 26, 2019, $5.2M — Eurizon
- Series A, Jan 21, 2019, $4.6M — Intesa Sanpaolo, Neva
- Seed, Apr 4, 2017, $1.4M — Intesa Sanpaolo, B-Ventures, Bertoldi Holding

## Investors

- Intesa Sanpaolo — Seed, Series A
- B-Ventures — Seed
- Bertoldi Holding (https://capitalatlas.ai/funds/bertoldi-holding) — Seed
- Neva (https://capitalatlas.ai/funds/neva) — Series A
- Eurizon (https://capitalatlas.ai/funds/eurizon) — Series A