Money Dashboard on Crowdcube

Any investors of Money Dashboard? How is company doing and is it worth considering for investment?
it seems company is around for a while and competition from challenger banks may make it difficult but good to know feedback from users/investors

Personal experience:

I’ve been using them for 2-3 years. Because I have done so many bank switching offers I have a few accounts opened and their software helps me keep track of my account balance and transactions. But i dont use it fully now, maybe one credit card linked. What I don’t like is that they still don’t have 2FA.

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I’ve just moved this post over from here as it’s a much better fit for this thread & the earlier comments from the original thread weren’t related - I hope that helps!

You can get free member shares if you click my profile, i started a thread.

Some caveats with Money Dashboard:

  1. You are giving them your entire online banking login details. They say it’s read only but the api isnt - so if its hacked, people can access your account
  2. MB t&cs wont be liable
  3. No 2FA
  4. You may open yourself to no compensation in the case of bank fraud as youve willingly given your online banking details.

Until banks provide read only api i dont see it as secure. Hence why i say you might just want to only link a credit card

Thanks for feedback. Anyone investor from previous rounds?
More interested in understanding from investment perspective rather than actual usage or getting free member shares.

Communication with investors is a bit thin, haven’t kept a close eye on how the business is doing tbh. (And I’ve found I haven’t used the product.)

Hello. I was at a Crowdcube event with them last night (and 6 other interesting startups) and left with a very good impression:
1: They are time-served - they’ve been around a while and have historic data which they’re now using.
2: They have excellent integration with a large number of banks etc
3: They are monetising their data which I had some problem with. On saying that they talk a good transparency game and, in principle, there is a link between access to data and the shares they give you. Their data looks to be good quality though. Investment Managers paying for access can see, for example, whether Tesco are going to hit their numbers etc, the correlation between graphs was impressive.
4: Yes, they give you 10 shares. They talked at length about this and, like we all understand, appreciate the value of customers with equity in the business.
5: They are sharing their API with other startups which appears to provide richer information on whether that purchase in Sainsburys (for example) was for coffee and so “entertainment/eating out” or from the shop “groceries”.
6: Only thing I didn’t like was their valuation which was too rich for my blood. I fear they may be looking for vanity valuations which won’t work in the long run.
Some of the other startups looked pretty interesting too and I’ll be looking to invest in at least a couple of them.

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Even I found their pitch interesting. But when I looked around for feedback, not a lot of positive information available. That’s reason of starting this thread.
On valuation some people got confused. I checked with founder. they are quoting £15m pre-val .

However based on feedback, I am wondering whether it is really worth?

Tell us more about the other 6 if you get a chance.

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I’m sure he said it was going to be £200m. What did you hear? Don’t quote me on that as it sounds like you heard something different. I guess we’ll find out soon enough!

The event was called Thrive for Fintech, organised by Crowdcube and was a showcase for 7 companies with a financial inclusion bent to pitch. Seven companies in different stages of evolution as follows. I think they were pitching for an investment as part of a competition - either way it was a good fun night (free booze, free food):

Money Dashboard is more established than the others so I won’t discuss but they all have potential. I really like AgriLedger which is blockchain supply chain management. It’s related to what I work in and I can see a real potential in it. A couple were clearly very ethical but they felt more like philanthropy than investment.

Full of hipsters plus a couple of chubby old men like me! If you get a chance to go one of their events you should definitely go.

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I checked with founder after presentation. it is £15m and not £200m. Last time they did for around £12.5m. Hopefully that is what they will quote on crowdcube

Thanks for writing that, very interesting.

I’m no expert but do some work for a supermarket… quite a few blockchainy supply chain transparency startups now. Less clear how to make it easy to get all of your supply chain onto it, esp in those industries where the supply chain gets “rebuilt” relatively frequently. Interesting stuff.

They were particularly looking at the supply chain in places like Haiti etc where it’s also about ensuring that farmers get a fair share. I get that, and the solution is imposed on them to a degree, in this case via the World Bank. It was “good” and I like the lady who presented very much.

A lot of Blockchain things you wonder why they don’t just use a database but, as you know, it’s a good fit for supply chain management with smart contracts etc. There’s a lot of money in supply chains, if they can deliver what they’ve promised (which I don’t think is certain but will be known shortly), then I’ll be going in.

When I deleted my account, they said my data will be deleted completely!

Moneydashboard’s latest fundraising round opened today, nearly at 100% already https://www.crowdcube.com/companies/money-dashboard/pitches/Z7OLRZ

(Oops, dunno if the link was supposed to be shared but, shrug!: “This pitch is currently hidden from the wider Crowdcube community to give selected investors known to the business an early opportunity to invest. As such only users with the URL can view this pitch.”)

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I’m in. I went to their pitch recently and found it pretty compelling. They have some pretty compelling revenue already and they have historic data which puts them ahead of their competitors.

Perhaps an unpopular opinion, but I don’t see the interest in them. I used them in the past and found them severely lacking.

If you want a proper budget planner, then YNAB or Mint in the US are ahead, but the latter is not available here in the U.K. and the former does not integrate via Open Banking in the U.K. Nevertheless, I haven’t seen Money Dashboard evolve significantly over the last few years and find their UI really clunky.

If you are looking for a more automated budget tool, then personally I find Yolt, Emma and others much more interesting and useful, and a lot of the challenger banks are building things that may make something like Money Dashboard obsolete in time.

App Store ratings obviously only tell a small part of the overall story, but Yolt has nearly 9k ratings with nearly 5 stars, MD has 220 with an average of 3.5 stars.

Like Nutmeg in investment management, Money Dashboard in personal finance seems old school compared to what’s coming on the market.

Perhaps I am missing something though. Happy to be proven wrong. :slight_smile:

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I have used money dashboard in the past, but left them as they were particularly uninspiring at the time. From what I can see of them recently they are gathering some momentum, but I am now a dedicated Emma user.

If anyone is looking for an app to help with budgeting and have all accounts in one place, I would strongly recommend Emma. They are constantly adding useful features and have done enough to win me over! I am a particularly hard man to please!

Note: Emma the app, not @Rat_au_van!

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I use both MD and Emma
MD doesn’t have the smooth UI but I really like it’s planner feature. Also It’s tagging of transactions is superior to its competitors.

Emma has a wonderful UI and does a decent job at tagging but is limited unless you pay for premium which allows you to create your own tags.

I chose not to invest because I didn’t see any major development work on the app in the 6 months I had been using it. I do like it and it’s web UI is pretty decent. however I didn’t notice any momentum. I will continue to use it because it’s simple and clear