About Oval Money
Oval Money is a Technology company based in London (United Kingdom) founded in 2015 by Claudio Bedino, and was acquired by Guru Capital in May 2021. App for financial planning, savings and P2P lending. Oval Money has raised $11.19 million across 9 funding rounds from investors including Intesa Sanpaolo, Eurizon and B-Ventures. The company has 38 employees. Its chief executive, as recorded, is Luca Merolla. Its focus areas include FinTech, Investment Tech, Wealth Management Platforms and Expense Management. Its legal entity is OVAL MONEY LTD. Its competitors include Cleo AI, Plum and Snoop; 3 of its 3 listed competitors have raised funding.
Company details
Oval is an app that will link to a users bank account and credit card, will give real time updates on the users spending patterns and stats, while helping them save easily. When users will want to spend for an emergency, an event, a gift or a charity donation, Oval will also allow users to borrow up to 80 on top of their savings that will be repaid on a yearly basis with daily micropayments. The loan will be provided by P2P money of other savers on Oval that have opted to invest their money into loans to receive a higher interest rate. The app is in beta stage as on June 2016
- Headquarters London, United Kingdom
- Employees 38
- Founders Claudio Bedino
- Stage Acquired
- SectorsTechnology
- Email••••••••
- Website ovalmoney.com
- Social LinkedIn X Facebook
- Acquired by Guru Capital (May 2021)
- Legal Name Oval Money Ltd
- Annual Revenue$313.46 K (USD)11485as on Dec 31, 2019
- Net Profit-$3.94 M (USD)-140as on Dec 31, 2019
- EBITDA-$4.52 M (USD)-135as on Dec 31, 2019
- Total Equity Funding$11.19M (USD)
in 9 rounds
- Latest Funding Round$1.33M (USD), Series A
Dec 2019
- InvestorsIntesa Sanpaolo
& 4 more
- Employee Count38
- Acquired byGuru Capital
(May 2021)
Funding Insights of Oval Money
Oval Money has successfully raised a total of $11.19M across 9 strategic funding rounds. The most recent funding activity was a Series A round of $1.33 million completed in December 2019. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $11.19M
- Total Rounds 9
- Last Round Series A — $1.33M
- First Round $28,620
(May 2016)
- Investors Count 4
All 9 funding rounds of Oval Money with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec 2019 | $1.33M | Series A | – | – | – |
| Oct 2019 | $5.14M | Series A | – | Eurizon | – |
| Jun 2018 | Series A | – | Intesa Sanpaolo | – | |
| Apr 2018 | $1.83M | Seed | – | – | – |
| Jan 2018 | $864,996 | Seed | – | – | – |
| Jun 2017 | $751,133 | Seed | – | – | – |
| Apr 2017 | $1.28M | Seed | – | – | |
| Jun 2016 | $28,180 | Grant | – | – | |
| May 2016 | $28,620 | Grant | – | – |
5 investors in total: 5 institutional.
Investors in Oval Money
Oval Money has secured backing from 5 investors, including institutional and venture fund investors. Prominent investors backing the company include Intesa Sanpaolo, Eurizon and B-Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
B-Ventures is focused on pioneering start-up growth strategies. | b-ventures.net | |||
Investment management services are provided by Eurizon in Italy. | 2006 | eurizoncapital.com | Milan, Italy | |
Commercial banks | 2007 | intesasanpaolo.com | Turin, Italy | |
Offers banking accounts, investments, consultations, and business financial solutions. | 2008 | chebanca.it | Milan, Italy | |
Strategic investment and advisory services are offered by Guru Capital. | 2019 | gurucapital.com | Rolle, Switzerland |
Investor details for Oval Money
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
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People of Oval Money
2 people are tracked at Oval Money (2 in leadership); the tracked headcount is 38.
| Name | Role | Group |
|---|---|---|
Claudio Bedino | Co-Founder | Leadership |
Luca Merolla | CEO | Leadership |
Complete people profiles for Oval Money
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of Oval Money
4 dated milestones of Oval Money across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Oval Money is founded.
- Funding First funding round of $29K.
- Funding Latest funding round, Series A, of $1.3M.
- Exit Acquired by Guru Capital.
Competitors of Oval Money
Oval Money has 3 listed competitors in our database, 3 of them funded. They include Cleo AI, Plum and Snoop.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| meetcleo.com | 2015 | London, United Kingdom | $175.49M | 74 | Cloud and AI-based chatbots for personal finance management are offered. | |
| withplum.com | 2016 | London, United Kingdom | $75.78M | 150 | AI-based platform for automated personal spend management is provided. | |
| snoop.app | 2018 | London, United Kingdom | $42.32M | 27 | Expense management for individuals is enabled via a mobile app. |
Detailed competitors of Oval Money
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Top companies in Investment & Financial Technology
2 companies that operate in the same segment as Oval Money (Investment & Financial Technology) in United Kingdom, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Online data source platform for information, analytics, and solutions for governments and financial markets | 1959 | London, England, United Kingdom | USD 1.41 B | |||
AI-based platform for automated personal spend management is provided. | 2016 | London, England, United Kingdom | USD 75.78 M |
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Related news about Oval Money
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Frequently Asked Questions about Oval Money
Oval Money was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Oval Money is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Luca Merolla is the CEO of Oval Money, as recorded in our data.
Oval Money is a funded company, having raised a total of $11.19M across 9 funding rounds to date. The company's 1st funding round was a Grant of $28.62K, raised on May 2016.
Oval Money has 38 employees.
Annual revenue of Oval Money is $313.46K as on Dec 31, 2019.
Oval is an app that will link to a users bank account and credit card, will give real time updates on the users spending patterns and stats, while helping them save easily. When users will want to spend for an emergency, an event, a gift or a charity donation, Oval will also allow users to borrow up to 80 on top of their savings that will be repaid on a yearly basis with daily micropayments. The loan will be provided by P2P money of other savers on Oval that have opted to invest their money into loans to receive a higher interest rate. The app is in beta stage as on June 2016.
Oval Money has 5 investors. Key investors include Intesa Sanpaolo, Eurizon, B-Ventures, CheBanca, and Guru Capital.
Oval Money operates through Oval Money Ltd.
Yes. Oval Money was acquired by Guru Capital in May 2021.