Moneygate confirms £18m cash injection to fuel acquisitions

The firm, based in the north east, has confirmed backing of about £18m from its main investor, London-based Committed Capital to step up its acquisition drive. Committed Capital has agreed to fund the completion of deals to buy 25 more IFA businesses which Moneygate says will help to increase its annual turnover to £60m by 2016, according to online publication NEBusiness.  The company also said it intends to launch its own asset management business. Moneygate employs a core 36 staff in the north east and 120 financial advisers across the country. In addition, the firm said it ex...