Moneybox is Europe’s newest unicorn, worth £800m, or $1.1bn. But no fundraise set that price. Staff did, by selling shares on London’s untested new private market.
Moneybox, the British savings and investing app, is now a unicorn. It has put a value of about £800m, or $1.1bn, on itself, the Financial Times first reported. The number is a milestone. The way it got there is the more interesting part.
This is not a funding round. Instead, long-serving employees will sell up to £45m of shares, and that sale sets the price. It runs on the London Stock Exchange’s new Private Securities Market.
How Pisces works
The market runs on a government framework called Pisces, the Private Intermittent Securities and Capital Exchange System. It lets private companies open occasional, permissioned trading windows. Staff and early backers can cash out without the cost and disclosure of a full IPO.
