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Oval Money

Business Services
UK - London
Date Rated:
Valuation (Pre Money):
Industry: Business Services
Location: UK - London
Platform: Crowdcube
£500,000 Expansion
Valuation: £5,500,550
Date Rated: 18/01/18



Tax Status: EIS

Business Summary

Oval Money is an app allowing users to save by setting up regular saving rules such as "round up my transactions" or "save 50p whenever I buy coffee". In the coming months the company will be adding a marketplace allowing users to invest their savings, with firms paying Oval Money for each client. The app is currently available and has circa 10,000 active savers. These funds will be used to further develop the service and to bring additional technical and regulatory expertise on to the team.

Financial Overview




There is insufficient information available to provide a financial overview



The management team is complete. Many members have been recognised for their skills & they are actively involved in the startup ecosystem. At this size of round we would expect to see a CFO.
The team is able to draw on a wealth of experience to guide their decision making. More direct experience in retail banking / investment would be an advantage, but this hasn't held them back so far.
Some members of the team have other current roles elsewhere and some of these may be a distraction, but Oval Money is quite well established so the team should be very committed to it.
The personal finance app sector has undergone significant growth and this can be expected to continue.
Oval Money has a large number of active savers who give the app very good reviews, with further endorsements from press and blogs. Adding investments will help to diversify the business.
There are a number of competitors in this sector as the market tests what approaches to saving do and don't work. Some of these competitors have been very well funded.
There is insufficient information available to fairly rate this aspect of the business


Oval Money's highly skilled team has built an app that gets good reviews and is helping a lot of people to save some significant amounts of money. Growth will almost certainly not be a problem for the team. Monetisation has yet to be demonstrated though, which leaves the valuation looking very full at this stage.

Investors should note that the company plans a further round later this year with dilution of up to 20%, but pre-emption rights come with a significant price tag of at least £20,000 invested,

Related Links

Crowdcube Pitch


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