Less than six months after its Best of Show winning demo at FinovateEurope 2014, Momentum (FKA YourWealth) has announced that it will soon be a part of Momentum UK.
Founder and CEO of YourWealth.co.uk, Toby Hughes said the acquisition would “fast-track development” of the company’s PFM technology. YourWealth.co.uk and Money Hub help users organize their entire financial life, from budgeting and aggregating accounts to accessing financial services and goal-planning.
Terms of the acquisition were not immediately available.
The acquisition includes Blue Speck Financial, the company that owns and operates YourWealth.co.uk, and the Money Hub app. Momentum UK is a division of MMI Holdings Ltd., a major South African financial services group. The purchase gives Momentum UK the opportunity to offer additional PFM tools to clients – and potential clients – in the UK.
Developed for individuals with a wide range in wealth (“anything from £5 to £50 million”), Yourwealth.co.uk and MoneyHub are designed to help people make better financial choices in three key ways:
- Centralizing finances to make information more readily accessible
- Enabling contact with financial services and financial professionals
- Embracing a multi-channel approach, including smartphone, tablet and desktop
An attention to UX and UI that turns even financial minutiae into irresistibly viewable information further helps distinguish the technology from its PFM peers.
YourWealth.co.uk was named to the FinTech 50 2014 (along with a number of other Finovate alums). The company’s technology is available only in the UK.
YourWealth.co.uk was founded in 2011, and is based in Bristol, UK. Owned and operated by Blue Speck Financial, the company has served more than half a million users since the technology’s soft launch in 2013.
Watch Momentum’s demo video from FinovateEurope 2014 here.