Money Squirrel has partnered with Moneyhub to power its newly launched financial management app designed to help small businesses take control of their finances. Launched in early January, the app leverages Moneyhub’s Open Banking-enabled API to automate VAT savings and optimize cash flow management for SMEs.
The app ensures that VAT payments are automatically saved in high-interest accounts, helping business owners grow their funds while staying prepared for future obligations.
Although small and medium enterprises (SMEs) are vital to the country’s economy, they have been slower to adopt Open Banking technology due to complex legacy systems and a lack of standardization. However, solutions like Money Squirrel’s app show how Open Banking can transform SME financial management.
Accelerating Growth Through Innovation
Money Squirrel is the second venture to join the SHIFT Open Finance Community’s fintech incubator program, Ignite, which provides financial support, expert mentoring, and networking opportunities to fintech startups.
Kim Jenkins, Managing Director of API at Moneyhub, said:
“Collaborating with Money Squirrel is a milestone in making Open Banking accessible to SMEs. We’re excited to simplify financial management and create growth opportunities for small businesses. This partnership underscores our mission to promote financial inclusivity and innovation.”
Andreea Daly, Founder and CEO of Money Squirrel, commented:
“Moneyhub’s API technology has been instrumental in our app’s development. Managing cash flow as a business owner is challenging—especially when calculating VAT and budgeting for future expenses. We know how powerful technology can be in removing these pain points and unlocking a business’s full potential.”
By combining Open Banking data with seamless payment automation, Money Squirrel’s app empowers SMEs to streamline operations, improve cash flow, and make smarter financial decisions.
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