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12th May 2021

Bedford-based regulatory risk management and video engagement platform receives £749,000 financial boost from MEIF

Nottingham, 12 May 2021: Money Alive, a regulatory technology business based in Bedford, is set for
further growth following a £749,000 financial investment from Foresight Group (“Foresight”) using equity
finance from the Midlands Engine Investment Fund (“MEIF”) as part of a £1 million funding round together
with a number of private investors.

Founded by CEO Andy Kirby, Money Alive launched its first commercial product in 2018. Its proprietary
video engagement platform is licensed to financial advisers, product providers and employee benefit
consultants to provide their clients, policy holders and members with engaging, accredited and impartial
information using Money Alive’s interactive video experiences.

The firm developed its proposition in response to a growing call from financial regulators that consumers
receive good quality, impartial information to enable them to make better financial decisions. Topics the
firm covers via its video content include final salary pension transfers, pension freedoms, drawdown
reviews and coming shortly, equity release.

Since launch, there have been over 200,000 videos played on the company’s platform. In a recent survey
of over 5,000 viewers, 98% said they valued being given access to Money Alive and over 94% said it put
them in a better informed position. Money Alive has a growing list of clients including Mazars, LV=, Tilney
Smith & Williamson and The Openwork Partnership.

The current funding round will support the further development of Money Alive’s platform, providing
integrated, end-to-end solutions for the workplace market as well as for the large financial advice
networks. The company is also planning to create eight new jobs across sales, content and marketing to
fuel the growth of the business.

Commenting on the investment, Andy Kirby, CEO of Money Alive, said: “Money Alive has a huge
opportunity to reshape financial engagement and education on the back of greater adoption of
technology. It is fantastic to be supported by Foresight, through the Midlands Engine Investment Fund.
This investment expertise will enable us to add to our high calibre team, develop workplace solutions and
enhance our offering to advisers. In turn this will support our founding vision of achieving better financial
outcomes for more people through fair, open and transparent communication.”

Jordan Lavender, Investment Manager at Foresight, added: “We are delighted to be able to support
Money Alive on the next phase of its growth journey. Since meeting management, we have been
impressed by the expertise and commitment of the team to create engaging content to help individuals
be more financially aware. The company is well poised for growth over the coming years, utilising our
investment through the MEIF, and we look forward to supporting the management team to realise the
company’s ambitions.”

Lewis Stringer, Senior Manager at the British Business Bank, said: “By leading this funding round, both
the Midlands Engine Investment Fund and Foresight are enabling Money Alive to continue building its
platform. This demonstrates the MEIF’s commitment to driving innovation in the Midlands and
supporting businesses to maximise new growth opportunities arising post-pandemic.”

Vicky Hlomuka, SEMLEP’s Growth Hub Manager, commented: “We’re delighted to see this Bedfordbased
business secure further investment through the Midlands Engine Investment Fund. With virtual
meetings, events and engagements increasing dramatically over the past year, it’s fantastic to see
Money Alive utilising this opportunity to not only further develop the business, but to create more jobs
locally.”

The Midlands Engine Investment Fund project is supported financially by the European Union using
funding from the European Regional Development Fund (ERDF) as part of the European.

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