About 247 Money
247 Money is a company based in Manchester (United Kingdom) founded in 2018 by Reg Rix and Louis Rix.. 247 Money offers products and services including Car Finance and Financial Support. 247 Money operates in a competitive market with competitors including Blue Motor Finance, Startline Motor Finance, JBR Capital, S&U and Go Car Credit, among others.
- Headquarter Manchester, United Kingdom
- Founders Reg Rix, Louis Rix
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name 247 Money Group Limited
- Date of Incorporation 29 Sep, 2017
- Jurisdiction MANCHESTER, UNITED KINGDOM
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Annual Revenue
$3.07 M (USD)34as on Jun 30, 2021
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Net Profit
$-520.54 K (USD)-117as on Jun 30, 2022
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EBITDA
$-670.98 K (USD)-123as on Jun 30, 2022
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Latest Funding Round
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Investors
NatWest
& 1 more
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Employee Count
Employee Count
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Products & Services of 247 Money
247 Money offers a comprehensive portfolio of products and services, including Car Finance and Financial Support. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Provides loans for vehicle purchases with flexible repayment options.
Assists customers with payment changes and cost of living issues.
Funding Insights of 247 Money
- Total Funding Total Funding
- Total Rounds 1
- Last Round Last Round
- First Round First Round
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2021 | Amount | Debt – Conventional - 247 Money | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in 247 Money
247 Money has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include NatWest and East Lodge Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Founded Year | Domain | Location | |
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Commercial bank
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by 247 Money
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - 247 Money
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
247 Money Comparisons
Competitors of 247 Money
247 Money operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Blue Motor Finance, Startline Motor Finance, JBR Capital, S&U and Go Car Credit, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Auto loans are offered to vehicle purchasers in the UK.
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| domain | founded_year | HQ Location |
Automobile loans are provided to UK vehicle buyers.
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| domain | founded_year | HQ Location |
Auto loans and vehicle financing are provided in the UK.
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| domain | founded_year | HQ Location |
Provider of specialist motor finance and bridging loans
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| domain | founded_year | HQ Location |
Auto loans are provided to UK vehicle buyers.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about 247 Money
When was 247 Money founded?
247 Money was founded in 2018 and raised its 1st funding round 3 years after it was founded.
Where is 247 Money located?
247 Money is headquartered in Manchester, United Kingdom. It is registered at Manchester, Greater Manchester, United Kingdom.
Who is the current CEO of 247 Money?
Reg Rix is the current CEO of 247 Money. They have also founded this company.
What is the annual revenue of 247 Money?
Annual revenue of 247 Money is $3.07M as on Jun 30, 2021.
What does 247 Money do?
247 Money was established in 2018 in Manchester, United Kingdom, within the financial services sector. Car loans are extended to individuals for vehicle purchases and related needs. Operations are centered in the UK, where straightforward financing solutions are delivered through an online platform. The company is co-founded by Reg Rix, serving as CEO, and Louis Rix, with a focus on efficient loan processing for borrowers.
Who are the top competitors of 247 Money?
247 Money's top competitors include JBR Capital, Startline Motor Finance and S&U.
What products or services does 247 Money offer?
247 Money offers Car Finance and Financial Support.
Who are 247 Money's investors?
247 Money has 2 investors. Key investors include NatWest, and East Lodge Capital.