Published: Jun 09, 2022
Focus: NPIF Maven Equity Finance
NPIF Maven Equity Finance has invested £1 million in Chester based Moneyshake, an online vehicle leasing and purchase comparison site.
Moneyshake's innovative technology enables its users to effortlessly compare PCP and car leasing deals, saving them time and money by sourcing the best deals and bringing them together in one place. The company does this by partnering with leasing and financing businesses to offer their deals on its platform. Moneyshake is also the only comparison platform that has an integrated PCH / PCP toggle within their platform that allows users to view both PCH and PCP finance options for their planned vehicle purchase.
Moneyshake is also one of the only comparison sites offering a car change calculator which allows people to see the best options for them when they are approaching the end of their current vehicle finance agreement.
The investment will support Moneyshake in further developing its existing platform, helping launch a commercial leasing service, and enhancing its price comparison technology.
The business also aims to build on its partner strategy, selling its solutions to finance and white label partners on a SaaS basis, as well as offering a market data and insight subscription to corporate partners.
“This exciting, customer-centric business is a great addition to the Maven and NPIF portfolio. The business has great future ambitions and is fast becoming a key name within the fintech industry. We have been impressed by the quality of the management team and existing shareholder base.”
Dean Cox, Senior Investment Manager at Maven
“Maven are the perfect partner for our next phase of growth. Following a record month in March for broker and dealer conversion on the Moneyshake platform, the whole team is ready to build on this to deliver another great year of sales”
Eben Lovatt , CEO at Moneyshake
"We are delighted that Moneyshake is committing to the region, as this increased activity and investment will support us to achieve our aims. It is great news that Moneyshake is leading the way and opening a new office here and it is fantastic to see another innovative firm joining our current portfolio of finance and digital businesses in Chester. I look forward to hearing more about their plans and working with them as we move forward.”
Clare Hayward MBE, Chair of Cheshire and Warrington LEP
“Fast-growing businesses like Moneyshake are fantastic examples of the transformational effect that access to finance can have for organisations in the North. With funding, Moneyshake can now substantially improve its existing products and move into the commercial leasing space. Equity finance is an important tool in helping business progress forward in their growth journeys.”
Sue Barnard at the British Business Bank