Par Equity Portfolio Company, Money Dashboard, has won a £125,000 grant as part of the Nesta Rapid Recovery Challenge. The investment will allow the Company to quickly scale its Spending Plan tool, which helps those facing financial uncertainty in the wake of the pandemic to more effectively manage their money.
Money Dashboard aims to scale its Spending Plan tool to reach thousands of people in the next year and to impact those in society who need it most. The platform provides users visibility into their finances and helps budget inbetween pay periods.
The £3 million Challenge is funded by Nesta, in partnership with DWP, JPMorgan Chase and Money and Pensions Service, It is supporting tools and services that improve access to jobs and money for people across the UK, focussing on those hardest hit by the economic shock resulting from COVID-19 and aims to support 1million people by 2023. The finalists will be chosen in May 2021, with six companies winning a further £150,000. Two winners will be chosen in September 2021, each receiving a further £200,000.