Moneyhub, an open finance and data platform, has scored £15m in top-up investment from savings and retirement firm Pheonix Group.
According to Finextra, the new money follows an October raise of £35m from Legal & General and Lloyds Banking Group and a £5m debt facility provided from Shawbrook.
In addition, the deal will see Pheonix Group join Lloyds and Legal & General as a minority shareholder in Moneyhub.
Phoenix unit Standard Life already has a commercial relationship with Moneyhub through a previous financial wellness proposition for workplace pension customers. The two will now look to build on the partnership with this new financing raise.
Specifically, Moneyhub pointed to the UK’s upcoming Consumer Duty and Pension Dashboard legislation, which it says its open data technology can help Standard Life with.
Standard Life CEO Andy Curran said, “Open Data is revolutionising customer interactions across our industry, powering new and innovative solutions, and offering greater flexibility to individuals to manage their financial wellbeing.
“Moneyhub is at the forefront of setting standards for the sector and a natural partner for Phoenix Group and our Standard Life business as it drives data regulation and access to Open Finance.”
LumiShare, a blockchain-based digital asset management ecosystem, recently netted $3.2m from the Abu Dhabi royal family.
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