Monva gears up for investment round by doubling fundraising target

UK-based FinTech Monva has secured £451,905 in fundraising on crowdfunder Crowdcube – more than double its original target.

The company was able to pull in over 600 investors to its service. This fundraising attempt follows a year after the firm hit its initial 2020 crowdfunding target and comes before Monva begins an institutional investment round later this year.

Established in 2018, Monva is a smart comparison service that uses customer data and AI to personalise and revolutionise the price comparison customer experience. The personalised service aids users in making the decisions right for them, while also cutting the number of forms needed to fill in – making it easier to compare and buy.

Monva CEO Steve Wiley said, “We are once again delighted by the response of our enthusiastic Crowdcube investors who believe in our vision to deliver a better, more personalised price comparison experience.

“As a team, we are excited about our technology, which we are continuing to refine and develop, but even more so about the lasting impact Monva will have on users. As we progressively head out of lockdown, the need to manage money, get on top of bills, and address some of the financial challenges that the pandemic has caused for so many people is crucial. We hope through our supporting information and services, Monva helps play a proactive part in people’s financial recovery.

“Since our last raise in May 2020, Monva has made incredible progress. We have hired several senior specialists; built partnerships with key brands to enable extensive product coverage across credit cards, loans and energy; and built key elements of our innovative technology through our Ai chatbot, online dashboard and foundation automation services.  We’re excited about the huge opportunity ahead of us to continue building Monva and developing the next generation of price comparison service for our users.”

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