What the business is
Moneyhub built an open-banking-powered app letting users see all their accounts, cards and finances in one place, and sells B2B engagement products across investments, pensions, savings and banking.
Starting capital
£55m funding round in 2022, mainly equity; backers include Lloyds, Legal & General and Phoenix Group.
How it started
Founded in 2014 in Bristol, Moneyhub let users view and manage their finances across multiple banks, credit cards and other sources in a single app, growing into an open finance and data specialist backed by high-street finance giants.
What happened
In 2025, newly appointed CEO Alastair McGill — replacing Samantha Seaton after eight years — began withdrawing from the D2C app over the following 18 months and restructuring the company. Per Fintech Futures, 36 roles — around 30% of the workforce — were cut, though Moneyhub did not confirm the numbers.
How it ended up
The consumer app wound down while the growing B2B business — engagement products for investment, pensions, savings and banking — became the company's stated whole focus.
What has to be true
The consumer market simply hadn't matured, on the company's own account — a rare, plain admission attached to a product shutdown.
The B2B line was the part actually growing, with engagement products across investments, pensions, savings and banking.
Backers double as distribution: Lloyds and Legal & General are exactly the institutions an open-finance data specialist sells to.
New CEO Alastair McGill made the call within weeks of arriving — a textbook new-leader portfolio reset.
Peer context sharpened the logic: open-banking fintech Vyne closed its UK operation the month before.
What can be applied
A D2C app can be the brand but not the business: pulling the consumer product to fund the growing B2B line is a reset backers will underwrite — and the layoffs land first.
Aftermath
As of the 14 February 2025 report, the app would wind down over the following 18 months, 36 roles were reportedly cut (unconfirmed by the company), and the B2B business was the stated focus. No revenue figures were given.
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