Moneybox Becomes a Unicorn on London’s New Pisces Market
Moneybox, the UK savings and investing app, has achieved the status of Europe’s newest unicorn, valued at £800m (US$1.1bn). However, this valuation wasn’t set through a traditional fundraising round but through a staff share sale on London’s new private market, Pisces.
July 14, 2026 – 12:56 pm
(Image by: Moneybox)
Moneybox has reached a £800m ($1.1bn) valuation, marking a significant milestone. What’s unique about this is that it’s not a funding round; instead, long-serving employees are selling shares worth £45m through the Pisces market on the London Stock Exchange.
How Pisces Works
Pisces, an acronym for the Private Intermittent Securities and Capital Exchange System, allows private companies to open occasional, permissioned trading windows. This enables staff and early backers to cash out without the full disclosure and costs associated with a traditional Initial Public Offering (IPO).
Moneybox’s share sale is facilitated through Crowdcube at a fixed price. Employees sell first, followed by an auction later in July. Access is invite-only, controlled by Moneybox.
A Unique Valuation Method
While this development is significant for UK capital markets, it’s important to note that the £800m valuation comes from an employee sale on a market with limited trading volume and no public price history. This raises questions about whether this price would hold up in a traditional fundraising round.
Despite this, Moneybox’s underlying business is robust. Founded in 2016 by Ben Stanway and Charlie Mortimer, the company serves over 1.9 million customers with assets exceeding £23bn. It achieved profitability in 2025 and recorded a 45% increase in valuation from its previous mark in October 2024.
London’s Bid to Retain Tech Champions
London’s effort to create a viable home market for tech companies is the bigger story here. For years, British tech firms expressed frustration over limited liquidity and the need to relocate to New York or San Francisco to access deeper markets. Pisces offers a compromise: liquidity without going public.
Moneybox isn’t alone in testing this ground; Wayve, a self-driving car company, ran an $85m tender at an $8.5bn valuation, while Revolut, Klarna, Monzo, and OakNorth have also shown interest in the new market.