Money Dashboard app chosen for mentoring scheme

Gavin Littlejohn, the founder of MoneyDashboard. Picture: contributed

Gavin Littlejohn, the founder of MoneyDashboard. Picture: contributed

1
Have your say

Appy days are here for a technology company that helps cash-strapped mobile phone users keep an eye on their pennies.

Edinburgh company Money Dashboard has been chosen for support after inventing an app which helps people keep track of their spending.

It has been chosen by the London Stock Exchange to join a scheme for high-flying firms, to the delight of entrepreneur Gavin Littlejohn, 41, who set up the firm up 2006 and launched the application four years later.

Based in Charlotte Square, the firm employs 20 people, and is enjoying huge growth with “hundreds” of people downloading the free app daily.

It is one of just 19 companies across the UK selected to take part in the stock exchange’s Elite programme, offering fast-growing businesses expert advice and guidance, including access to enterprise guru Sean Phelan, the founder of Multimap, which was later bought by Microsoft.

Mr Littlejohn said: “We are very excited to be part of this programme. We offer a service which allows people to pull together all their different current accounts, savings accounts and credit accounts they have online into a single view.

“And it uses historical spending patterns to create a cash forecast, which works out how much money people have available until they are next paid.”

The step helps crystallise Edinburgh’s growing reputation as a centre of digital excellence – with gaming firm Rock Star North making waves with its Grand Theft Auto franchise.

Only one other Scottish company has been included in the Elite programme – Glasgow-based medical firm Taragenyx.

The two-year scheme will guide firms on how to adapt and shape their businesses for long-term growth, which could lead to them being floated on the stock market or sold on to another company.

Tech sales can be extremely lucrative. Earlier this year, the messaging service WhatsApp, founded in 2009 by two former Yahoo! employees, was bought by Facebook for £11 million.

Mr Littlejohn said: “We don’t quite know what the future holds for us, but we are going to be given access to professional advisers who have a lot of experience of things we may be going through.”

Xavier Rolet, chief executive of the London Stock Exchange Group, said: “We believe the environment in the UK is ripe for a programme to support high growth businesses.”