Edinburgh-headquartered fintech company, Money Dashboard, the UK’s most popular free personal finance app, plans to invite all its users to join its membership community.
In a week-long pilot, member shares were claimed by over 10,000 users, based on the success of this pilot the ambitious fintech decided to roll out more member shares to the rest of its users.
With almost a half a million downloads, the company has set aside one million free member shares for its users, which could translate to “significant value” upon a successful sale of the company.
Every member who joins will be able to invite their friends to sign up, which increases their own stakes in the business. For a limited time only, all new users that join will be automatically reserved a place in Money Dashboard’s membership share scheme.
Related: Money Dashboard Gears Up for Capital Rise in 2019
Money Dashboard says that its member community is its way of putting customers at the heart of its growth and continued success. By providing users with a stake in the business, the firm hopes to create a more transparent and fair financial landscape.
Last year, the company gained recognition from the financial industry; winning Best Personal Finance App for a second consecutive year.
In December it announced a strategic partnership with price comparison site GoCompare with the launch of an API platform that supplies third-party developers access to detailed categorisation, which can enrich data from hundreds of UK banks and financial institutions.
Recently, it has added a new fast-growing revenue stream in the form of anonymised consumer spending insights, and already has plans to raise large amounts of capital in the first half of 2019. The GoCompare partnership followed previous data-sharing collaborations with Monzo and Starling Bank.
Money Dashboard CEO Steve Tigar said: “A year after coming into play, Open Banking has had a relatively slow start but we are now starting to see signs of innovation moving the needle in the sector.
“Money Dashboard is an early pioneer in terms of the UK fintech scene, we have tonnes of ambition to be one of the sector’s next success stories and our member share giveaway is about putting our users at the heart of everything we do and allowing them to share in our success.”






