As Money Dashboard is a free service, a lot of people are wondering where the money comes from that has been used to build the Money Dashboard tool and pay our staff. Don't worry, users, we're not going to suddenly change our mind and send you a huge bill!
Money Dashboard has raised over £2M of funding to date, from three sources: the management team, business angel investors and Scottish Enterprise.
Scottish Enterprise have been involved since the start and their support continues to be invaluable - everything from informed advice, through government grants, to equity investment. S.E. provide a broad range of expertise, as does our management team and our community of business angel investors. Money Dashboard is fortunate to have attracted non-executive directors and shareholders that bring an enviable mix of enthusiasm and knowledge to our business.
We've also recently added an important fourth source of funding: income. We aim to keep Money Dashboard free by helping our users to understand, access and select suitable financial products via our ‘Ways to Save' pages, ultimately leading to transactions that generate marketing fees from product providers, helping us to continually develop new services and benefits.
With the ‘Ways to Save' revenue coming in, we plan to continue to raise the levels of investment necessary to keep Money Dashboard going, to maximise value for our shareholders, and to make Money Dashboard the one place to manage your money for our users.
by Andy Laing, Chief Financial Officer