Flagstone, the UK’s leading cash deposit platform, has just secured a substantial £108 million equity investment from Estancia Capital Partners, a prominent US private equity firm specializing in financial services. This investment underscores Flagstone’s rapid growth and market dominance, making it a key player in the cash management industry.
- Company Background: Founded in 2015 by Andrew Thatcher and Simon Merchant, Flagstone was created to simplify the process of managing multiple cash savings accounts. It has since evolved into a platform that offers white-label and API-integrated solutions for businesses, providing customers with easy access to a wide range of competitive savings options.
- Growth: Flagstone boasts a customer base of over 600,000 and manages assets worth more than £11 billion. Its Assets under Administration (AUA) increased by over £1 billion per quarter in 2023, indicating a growing demand for its services.
- Profitability: In December 2022, Flagstone recorded its first quarter of profitability, highlighting its sustainable business model and financial strength.
With Estancia’s investment, Flagstone aims to further consolidate its position in the cash deposit market. This includes enhancing brand awareness, strengthening partnerships, and offering more competitive savings products.
