Laurel Powers-Freeling has been appointed as the new chair of directors for the digital wealth platform Moneybox.
Laurel has a long history in financial services having held numerous board, senior advisory, and management positions with organisations including the Bank of England, Sumitomo Mitsui Bank, Bank of Ireland, Atom Bank, Marks & Spencer/M&S Money, Amex, the Prudential, and Lloyds TSB.
Moneybox, which provides a number of digital financial services ranging from pensions to ISAs, now has 700,000 customers and earlier this year surpassed £2bn in assets under management. It was founded in 2016 by co-founders Ben Stanway and Charlie Mortimer.
The company last raised cash in 2020 with a £38.8m in a Series C funding round jointly led by Fidelity International Strategic Ventures (formerly Eight Roads) and new investors Open CNP. As part of the round, £7m came from over 16,500 private investors via Crowdcube.
In her position as Chair of the Board, Moneybox says Laurel “will provide strategic counsel and governance oversight across all aspects of the fast-growing business”.
Powers-Freeling said: “The financial needs of so many people remain underserved by traditional - and even more of the more recent - financial services organisations. While the UK has many providers of savings and investments, their products and services are often complicated, opaque, and inaccessible. Moneybox is the opposite of all that: it’s straightforward, transparent, and democratic”
Ben Stanway, co-founder of Moneybox, added: “Moneybox exists to help people build wealth with confidence so they can enjoy life, today and tomorrow and Laurel’s passion and support for our mission were evident from our earliest conversations.”
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