Volution completes investment in UK fintech Flagstone
Flagstone is the UK's largest savings platform and Volution's tenth fund investment
We are pleased to announce that Volution has led a top-up funding round for Flagstone, the UK’s leading savings platform. The round was supported by a number of Flagstone’s existing investors and new investors.
Founded in 2013, Flagstone started life as a platform for HNW investors to help them manage and diversify their cash holdings and has grown to become the UK's leading savings platform.
Flagstone provides clients with a simple, secure online platform that gives them access to hundreds of deposit accounts from over 50 banks through a single application, empowering them to earn more interest income and reduce risk.
The company has built up an enviable market position in the UK with well-developed distribution channels (including IFAs, wealth managers and other fintech partners) and a large number of top-tier banking partners. A significant investment in technology has enabled Flagstone to reduce its minimum deposit amounts over time, opening up its market-leading service to a far wider audience.
Simon Merchant, CEO of Flagstone said, ‘This investment will support Flagstone’s continuing scale up in the UK market as well as our international launch. Volution has followed the company for a number of years and we are looking forward to working ever more closely with their team as they develop their model to provide active support to their portfolio companies.’
James Codling, Managing Partner of Volution commented, ‘We have tracked Flagstone’s progress for a number of years and are delighted to have supported the company with this round. The company has invested heavily in its infrastructure and find themselves at an inflection point which will allow them to scale significantly over the next few years. We look forward to supporting them with this ambition.’
This new investment will be used to drive further growth in AuA ahead of a planned Series B fundraise round in 2023.