On the back of a successful year, free personal finance app, Money Dashboard, is already eyeing the next phase of its growth for 2019.

The app, which has had more than a million downloads, enjoyed a record year of growth in 2018 and the firm is on track to double its group revenues to over £1 million.

A two-time winner of the Best Personal Finance App at the British Bank Awards, the company has added a fast-growing revenue stream in the form of anonymised consumer spending insights, the customer base of which includes a number of asset management firms.

Onwards and Upwards for Money Dashboard

In 2017, Money Dashboard raised £1.4 million in equity crowdfunding on Crowdcube, including backing from more than one thousand users of the app. After the 2017 funding round, the company invested the cash into growing its user base, upping its staff count to 20 and opening a London office.

It also secured an insights deal with Global Market Research Company and secured Tim Shields as its CTO. The company plans to build on this success and is actively considering a number of options for additional growth in 2019.

Commenting on the year to date and looking ahead to the rest of 2018 and into 2019, CEO at Money Dashboard, Steve Tigar, said: “Following last year’s successful crowdfund, we’ve grown the team this year, upped the user base, doubled revenues and are now beginning to realise the value from our consumer spending insights team.

“We are close to announcing a major industry partnership and are actively considering a number of options for additional growth capital in 2019.”