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SEP agrees further investment in TotallyMoney

Scottish Equity Partners (SEP) has agreed a further investment in credit marketplace business TotallyMoney  as part of a £29 million round. The funding, which is subject to FCA approval, will enable TotallyMoney, one of the UK’s fastest growing fintech companies, to increase customer acquisition, build out its tech platform and further refine its offering to consumers.

David Sneddon, a Partner at SEP said: “Our continuing support of TotallyMoney reflects our belief in the high growth potential of its data driven approach. Its technology led products are creating strong competitive advantage, and this investment will ensure that the company remains at the forefront of a fairer credit market for consumers.”

TotallyMoney CEO Alastair Douglas commented: “The team at TotallyMoney has done an excellent job in working towards our mission of making credit better, by giving customers control of their data and helping them make smart borrowing decisions. With the new investment we will be able to further develop our technology and product offering to improve the financial position of even more customers.”

TotallyMoney has acquired more than 1 million new customers since launching its Free Credit Report in 2017 and was crowned Best Free Credit Report Provider at the 2018 Moneynet Personal Finance Awards.