Money Dashboard enjoys rise in mobile app users

Littlejohn: founder of company. Picture: Contributed
Littlejohn: founder of company. Picture: Contributed
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EDINBURGH-BASED Money Dashboard has seen a surge in mobile users following the release of dedicated app versions of its personal finance software.

The company says that downloads are up by 80 per cent on last month following the launch of its native apps for iTunes and Google Play, which were developed in the wake of a £2.5 million fundraising earlier this year.

The new apps are a faster version of the mobile software, which has been available since 2010, and include a number of new features.

The firm aims to help people keep better track of their finances by bringing together all of their banking and credit card accounts into a single view.

According to the Financial Conduct Authority, the British consumer credit market stands at some £200 billion, with about nine million people in serious debt.

Founded by Gavin Littlejohn, Money Dashboard recently surpassed 100,000 users generating more than one million transactions per week. The firm was the first to bring this kind of service to the UK, which is free to use and compatible with all major bank and credit card companies.

New features include a tool to track spending on specific items such as groceries, and an auto log-in option for easier access.

Month-on-month spending can be compared instantly, while easier tag searches help to split spending into various categories.

The cash injection earlier this year was led by private equity fund manager Calculus Capital, with additional support from Ariadne Capital, Par Equity and the Scottish Investment Bank.

Calculus took an initial stake in Money Dashboard in November 2013, when it led a £2.7m fundraising.