Under the terms of the agreement, Capita has become a shareholder in Munnypot in return for a long-term relationship providing business development services.

In addition to its established direct to consumer service, Munnypot also focuses on providing its solution as a white label product. Through this partnership, Munnypot will work with Capita to design solutions for wealth management firms, allowing them to go to market with a best in breed robo-advice solution in less than 100 days. Capita will also support Munnypot to help ensure they continue delivery excellence as they scale up. 

CEO and Co-founder of Munnypot, Andrew Fay, said “We’re excited to work with Capita’s scaling partner team. We have a market leading proposition and have had great success delivering our solution for Jyske Bank. But this relationship with Capita marks a significant milestone for Munnypot and opens the door to many more opportunities. Clients can now transact with us, knowing that we’re still the same independent, innovative, agile business but with the comfort of knowing we have the support of Capita plc as a shareholder.”

CEO of Capita plc, Jonathan Lewis, said “Our partnership with Munnypot creates a relationship that is of strategic value for our clients, Munnypot, and for Capita. We are enabling our financial services clients to address the growing digital savings market in an effective way, helping a dynamic start-up to achieve critical mass and create sustainable UK based digital jobs, and we’re continuing to innovate and strengthen the digital platforms we offer to our clients to deliver real value and create future sustainable growth.”