Financial Product & Services Comparison Platform Monva Returns to Crowdcube: Now Seeking £200,000 in Funding

Less than a year after raising £479,440 through its first Crowdcube funding round, Monva, a UK-based intelligent comparison platform for financial products and services, has returned to the equity crowdfunding platform to raise a minimum of £200,000. The newly launched funding round has already attracted more than £80,000 from nearly 160 Crowdcube investors. 

As previously reported, monva is on a mission to “reimagine” how everyone compares and buys products and services by removing the “friction” involved in buying financial services and utility products, using customer’s data for good, and automating mundane tasks. The company will use the data to help with the following:

  • Personalize ongoing offers through your account dashboard and mobile app
  • Intelligently update your financial offers, helping you to be proactive by enabling faster switching using the data you have already provided
  • Automatically complete credit card searches in just 10 seconds

While sharing more details about the company’s products and latest Crowdcube campaign launch, , CEO of Monva, Steve Wiley, stated:

“We’re proud to announce our latest round of crowdfunding following an exciting period of development for MONVA. Price comparison sites were at the forefront of the digital revolution in financial services. However, innovation has slowed, and the mainstream model has become outdated, predicated on the user doing the hard work and built on a noisy, icon led marketplace. Despite their growth, there remains over 80% of people in the UK who have never switched a product, or switch rarely. Our smart technology and money saving assistant, Mo, represent the biggest advancement in the industry yet. Our aim is to serve not only those who use comparison today, but also those who have been put off from making important financial decisions and the potential of saving money by using services promoted by gimmicks that do little to support the customer.”

In regards to the company’s progress, Wiley added:

“Since our last raise in May 2020, MONVA has made incredible progress. We have hired several senior specialists; built partnerships with key brands to enable extensive product coverage across credit cards, loans and energy; and built key elements of our technology, launching into energy and credit card switching markets.  We’re excited about the huge opportunity ahead of us to continue building MONVA and developing a next generation price comparison service for our users.”

Monva is now offering 5.01% in equity at a £3,791,653 pre-money valuation through the campaign, which is set to close at the beginning of April.

 


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