MOVO
Founded Year
2014Stage
Debt - III | AliveTotal Raised
$11.27MLast Raised
$1.49M | 2 yrs agoMOVO's Product Videos
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MOVO's Products & Differentiators
Digital Cash Cards®
Create digital CASH Cards for the most secure, quick, and convenient payment process and card on file.
Research containing MOVO
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CB Insights Intelligence Analysts have mentioned MOVO in 1 CB Insights research brief, most recently on Oct 13, 2021.
Expert Collections containing MOVO
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
MOVO is included in 2 Expert Collections, including Fintech.
Fintech
7,940 items
US-based companies
Banking
213 items
Challenger bank offer digitally native banking products (checking and savings account at the most basic) and either leverage partner banks or are fully-licensed banks themselves.
MOVO Patents
MOVO has filed 1 patent.
Application Date | Grant Date | Title | Related Topics | Status |
|---|---|---|---|---|
12/18/2006 | 5/3/2011 | Machine translation, Translation, Translation studies, Google services, Translation websites | Grant |
Application Date | 12/18/2006 |
|---|---|
Grant Date | 5/3/2011 |
Title | |
Related Topics | Machine translation, Translation, Translation studies, Google services, Translation websites |
Status | Grant |
Latest MOVO News
Feb 14, 2023
| Insurance Business UK The Movo Partnership has announced another consecutive year of growth and announced its target of £90 million in gross written premiums (GWP) in 2023. Since launching as an independent, appointed representative (AR) broker network in March 2019, the Movo Partnership has exceeded its business targets every year. In 2021, it boasted a network of 52 AR broker members, 30 staff, and GWP of just over £40 million. By year-end 2022, Movo had expanded to 66 members and £68 million GWP, growing by a stellar 70% since it announced its breakaway from GRP-owned broker network Hedron last November 2021 – effective March 2022. The partnership had only expected to hit £65 million GWP last year. The Movo Partnership expects to continue this pattern of growth and reach 90 broker members and £90 million GWP by year-end 2023, representing a further 30% growth for the network. “I’m so thrilled with these results,” said Movo Partnership managing director Lea Cheesbrough. “We’ve stuck to our values, and I think it’s fair to say that despite our ambitious targets, we continue to exceed expectations…. We won’t stop here. 2023 will see us transform Movo as increasing numbers of brokers – and the insurers who show us such incredible support – understand the benefits and opportunities of the independent AR network model and of supporting the growth of start-up brokers.” Movo made a “significant investment” in its IT platform in the latter half of 2022, including via its acquisition of the in-house software provider Durell to complement the network’s capabilities with Acturis and support Movo broker members with even better distribution tools. In a Press release, Movo noted that members of the Movo Partnership retain 100% of their commissions. All profits are reinvested for the benefit of the membership and the future of broking, in line with Movo’s vision of the most cost-effective way to run a brokerage and encourage start-up brokers to replace insurance brokerages lost to mergers and acquisitions. Related stories: Director expects another 30% growth by year-end 2023
MOVO Frequently Asked Questions (FAQ)
When was MOVO founded?
MOVO was founded in 2014.
Where is MOVO's headquarters?
MOVO's headquarters is located at 530 Lytton Ave, Palo Alto.
What is MOVO's latest funding round?
MOVO's latest funding round is Debt - III.
How much did MOVO raise?
MOVO raised a total of $11.27M.
Who are the investors of MOVO?
Investors of MOVO include Paycheck Protection Program, NuFund Venture Group, Eric Solis, Daniel Kjellen and Cox Orange Investment.
Who are MOVO's competitors?
Competitors of MOVO include Found and 4 more.
What products does MOVO offer?
MOVO's products include Digital Cash Cards® and 4 more.
Compare MOVO to Competitors
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RentDrop develops a rent collection app that helps pay and collect rent. It allows users to grow their credit score, leverage rent payment history to access loans, and enables users to maximize the value of rent payments. The company was founded in 2020 and is based in Boston, Massachusetts.
First Boulevard provides mobile banking solutions with an emphasis on helping black Americans control and grow money.
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