Based in Codebase in Edinburgh, Money Dashboard is established as the UK’s leading personal finance app, serving over 175k consumers, and has won the 2018 British Bank award for best personal finance app. The award-winning app gives consumers the TrueView® of their financial position by: (i) consolidating all their current accounts, credit cards, and savings accounts & (ii) allocating each bank transaction into a distinct expenditure category using Mercury - Money Dashboard’s core engine. The company generates revenue by creating insightful market research from anonymised bank statement data, for example by helping hedge funds predict revenue announcements of listed companies.
Money Dashboard has very quickly gained traction with its target market, and counts the world’s most prestigious hedge funds, investment banks, and asset managers as subscribers, collectively paying more than £1m per year. Importantly, the revenue model scales with growth in the user base. A Data Client currently pays £65k per annum; this will rise to over £250k as they reach 500k users.
In order to capitalise on the explosive growth opportunity afforded by Open Banking, which launched in January 2018, the company is seeking to raise £5,000,000 to fund a Growth Strategy with an aggressive sales and marketing plan, stimulating growth to target annual revenues of >£20m in year 5.
The Company has raised £10m in equity financing to date, from Investors including Calculus Capital, Par Equity, the Scottish Investment Bank and their own users via a Crowdcube nominee.
The Company has a healthy and vibrant culture and it is vital that the candidate is eager to actively build the culture, particularly as the business enters a period of accelerated growth.
To help people from every walk of life be happier and more successful by putting them in control of their finances.
We collaborate: we talk, are curious about each other, are supportive
We own: we are accountable, diligent, hard-working, dedicated
We improve: we learn from mistakes, are honest about weakness
We are novel: we are adventurous, risk-taking, ambitious
Background to the Current Opportunity
This is a fantastic opportunity for an individual to take a lead role in an exciting senior position at Money Dashboard. The role of CFO/COO is an integral part of the team and will be a direct support to the CEO and senior leadership team. Primarily, the role will support the rapid growth of the company with robust and effective management reporting, systems and processes. The CFO/COO will also be heavily involved in the commercial development of the business supporting the CEO in engagement with clients and investors and will support the wider business from an operational, HR, Legal, IT, governance, risk and controls perspective.
This position represents an excellent opportunity for a motivated finance leader who wants to work for a business that are in a very exciting stage of their growth story. In addition, the company will provide a firm career platform with a great opportunity for personal and professional development.