Intriva will provide additional funding to further enhance the depth, breadth and value of services for MoneyPlus’ customers in a total investment program of $85 million.
MoneyPlus Group was founded in 2010 to help people who are struggling with their finances to find the right solutions to their problems. It has grown to become one of the UK’s largest providers of private debt advice and planning, working with over 50,000 customers each year. Alongside its core debt advice service, MoneyPlus Group also provides household energy solutions and legal services to its customer base. MoneyPlus is headquartered in Manchester, employs more than 170 people, and is regulated by both the Financial Conduct Authority (FCA) and the Solicitors Regulation Authority (SRA).
Intriva’s backing of the management buyout, led by Chris Davis, the longstanding Chief Executive of MoneyPlus Group, will accelerate the expansion of the company’s services to a wider range of customers across the country, at a time when debt advice is increasingly necessary. The existing MoneyPlus management team will continue in their existing roles.
Simon Finn, Managing Partner at Intriva Capital, says: “Chris and his team have successfully grown MoneyPlus to become a leader in its field with a reputation for understanding customer needs and acting with the upmost responsibility. This transaction is an opportunity for us to invest in a high-growth, dynamic business with a strong management team and an ambitious plan to support underserved markets and geographies.
Chris Davis, Chief Executive Officer at MoneyPlus Group, says: “When we began talking to the Intriva team, it was clear that they understood our business and broader sector and, perhaps most importantly of all, shared our core values and ethos of supporting customers fairly and responsibly at all times. With Intriva’s backing, we’ll continue to grow the business and help more people in need of financial advice and assistance.”
In December 2020, Intriva announced the acquisition of Lending Works, as well as the provision of significant additional funding to scale-up the lending platform’s operations. Lending Works has recruited former Zopa president Jonathan Kramer as Chief Operating Officer with a mandate to create a new institutional funding division.