What does Flagstone do?

Flagstone operates a UK cash deposit platform giving savers access to accounts at 65+ banks through a single application.

Who founded Flagstone?

Flagstone was founded by Simon Merchant, Andrew Thatcher in 2013.

Who are Flagstone's investors?

Flagstone's investors include Estancia, Kindred Capital, Kreos Capital, OMERS Ventures, Venture Founders, Volution Ventures.

How much funding has Flagstone raised?

Flagstone has disclosed $118.5M raised across 1 of its 6 known rounds.

Where is Flagstone headquartered?

Flagstone is headquartered in London, GB.

Flagstone

London, GB · Founded 2013 · 393 employees on LinkedIn · 10 known investors

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Flagstone is a UK savings platform that connects individual savers with over 65 banks and 5,000+ financial advisers to help them maximize returns on their deposits. The platform serves savers aged 18+ with UK bank accounts and £10,000 minimum deposits seeking better interest rates on their savings.

Also known as Flagstone · Flagstone Group Ltd · Flagstone Investment Management

Fintech

Founders & leadership

Flagstone was founded in 2013 by Simon Merchant and Andrew Thatcher.

Simon MerchantCo-founder · Non Executive DirectorCo-Founder and Chairman at Flagstoneim

Andrew Thatcher Co-founder · Chairman, Flagstone Group LimitedHe founded Flagstone in 2013 and served as its CEO until 2022, later becoming Chairman of Flagstone Group Limited and co-founding Flagstone International, where he was CEO from 2022 to 2025. His earlier career included an executive director role at Man, heading UK marketing as a principal at GLG Partners, and an executive director position at Citi.

Arman Tahmassebi Chief Executive OfficerHe joined Flagstone as Chief Operating Officer in 2024, having held the same role at LendInvest for five years. Earlier, he was COO and then CEO of ETX Capital, COO of London Capital Group, and spent several years at IG as Managing Director for Europe and South Africa and Global Head of Operations.

Meredith WilliamsNamed on SEC filing

Investors · 10

Also in the syndicate · 4

Estancia Capital PartnersleadMoneysupermarket GroupMoneysupermarket Group plcVentureFounders

Reported raises · per SEC filings

Form D private placements

$118.5M disclosed across 1 of 6 rounds · 2017–2024

▶$118.5MraisedJun 2024 · 3 investors · Investing

Rule 506(b)

Officers, directors & promoters on the filing

Meredith WilliamsDirector
Andrew ThatcherDirector
Simon MerchantDirector

Offering amount: $118.5M
Amount sold: $118.5M
Finders' fees: $4.4M
Placement agents: Houlihan Lokey Capital, Inc
First sale: Jun 2024
Incorporated: Other, United Kingdom
Federal exemptions: 06b

Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Company profile

researched Aug 2026

Flagstone Group Ltd is a London-based financial technology company that runs a cash deposit platform. Through a single application and login, clients can open and manage savings accounts across more than 65 UK banks and building societies, including instant access, notice and fixed-term products, as well as a cash ISA that allows multiple tax-free accounts with different banks within one wrapper. Cash is held in an FSCS-eligible holding account before being deposited into chosen savings accounts, and the platform is used to spread deposits to maximise FSCS protection (up to £120,000 per client per UK banking group, £240,000 for joint accounts, with qualifying temporary high balances covered up to £1 million for six months).

The company serves individual and joint savers, businesses, charities, SIPPs, SSASs and trusts, and financial advisers, and operates a separate international proposition. Product coverage extends across GBP, USD and EUR deposits for business clients. Flagstone states that it is not a bank, a comparison site or a wealth adviser: banks list accounts, including exclusive rates, on the platform, and Flagstone does not provide financial advice.

Compiled by commissioned research from 11 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported

Assets under administrationMar 2024more than £11 billion

Cash held on platformJan 202619,000,000,000 GBP

Clients on platformJan 202675,000 clients

Consecutive quarters of profitable growthMar 20245 quarters

CustomersMar 2024600,000 customers

EmployeesJul 2026393 employees

Estimated annual revenueJul 2026$50M - $100M

HeadcountAug 2026393

Minimum deposit to open an accountJan 202610,000 GBP

Monthly website visitsJan 202641,000 visits/month

Partner banks on platformJan 202665 banks

Savings account offerings on platformMar 2024200

Savings providers on panelMar 202460 providers

Total funding raisedJan 2026$152.1M

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Founder mafia

2 people who came through Flagstone went on to found or lead other companies.

Meri WilliamsNon Executive DirectorFounded Pleo Timo BoldtNon Executive DirectorFounded Gousto

Related companies · 4

RaisinRaisin operates an online marketplace that gives savers access to savings, deposit, and private equity products across multiple countries, with offers tailored to the user's country of tax residence.

SmartAssetFisher Investments is a global money management and financial advisory firm that provides portfolio management, financial planning, and retirement planning services primarily to high-net-worth individuals and institutional clients. The firm manages investments across equities, fixed income, and blended accounts using an active, forward-looking investment approach.

ChaseA wealth management and investing service (J.P. Morgan Wealth Management via Chase) offering self-directed brokerage accounts with commission-free online trades as well as one-on-one advisor services, financial planning tools, and retirement accounts. It serves individual retail investors ranging from beginners to experienced investors in the United States.

TaxfixTaxfix offers a mobile and web app that guides individuals through their tax returns via a question-and-answer flow and submits them to German tax authorities through the official ELSTER interface. It serves employees, students, retirees, parents, landlords, and small-business owners in Germany, and also offers an expert service where independent tax advisors prepare the return.

Companies working in the same space as Flagstone.

Timeline · 13

launches, deals, and filings

Jul 2026

Bank ABC launches exclusive business savings account on Flagstone

Bank ABC launched an exclusive six-month fixed-term business savings account on the Flagstone platform at 4.09% AER, continuing its partnership providing deposit products in GBP, USD and EUR.

source ↗

May 2026

Research collaboration with Cebr

Economics consultancy Cebr partnered with Flagstone on independent economic analysis.

source ↗

Mar 2026

Cash ISA launch

Flagstone launched a cash ISA, positioned as a rival to Hargreaves Lansdown's offering.

source ↗

Jan 2026

Arman Tahmassebi appointed chief executive

Flagstone appointed Arman Tahmassebi as chief executive as co-founder Simon Merchant stepped down from the role for health reasons.

source ↗

Jul 2025

Chetwood Bank offers limited-time fixed-term rates via Flagstone

Chetwood Bank, in collaboration with Flagstone, offered limited-time fixed-term savings rates across short- and medium-term durations.

source ↗

May 2025

Intelliflo partnership for adviser client reporting

Intelliflo partnered with Flagstone so advisers can add valuations more seamlessly and improve efficiency in client reporting.

source ↗

Mar 2024

£108M ($138m) equity investment from Estancia Capital Partners

Estancia Capital Partners, a US financial services private equity firm, took a minority stake in Flagstone via a £108 million equity investment to support expansion of its savings product line.

$138M source ↗

Mar 2024

Flagstone announces £108 million equity investment from Estancia Capital Partners

Flagstone announced a £108 million equity investment by US financial services private equity firm Estancia Capital Partners, combining primary and secondary investment, with Estancia taking a minority stake. The transaction was expected to close in Q2 2024 after regulatory approvals.

source ↗

Mar 2024

Estancia executives to join Flagstone board

As part of the Estancia investment, Takashi Moriuchi and Keegan Mitchell were to join the Flagstone Board of Directors, with Darrin Jeffries as a Board Observer.

source ↗

Dec 2022

First quarter of profitability

Flagstone recorded its first quarter of profitability in December 2022.

source ↗

May 2020

$15M (£12m) venture round led by OMERS Ventures

Round led by OMERS Ventures with participation from existing investors Kindred Capital and Moneysupermarket Group plc, to expand the cash deposit marketplace in the UK.

$15M source ↗

Jan 2020

Revolut partners with Flagstone for UK savings vaults

Revolut launched a savings vaults feature for UK users in partnership with Flagstone.

source ↗

May 2019

Raised £11m in growth funding

Flagstone raised £11m in growth funding from backers including Kindred Capital, VentureFounders, Moneysupermarket Group and individual investors.

$14.1M source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

▸Research sources · 11

primary sources listed

Flagstoneimflagstoneim.com · web
Flagstone received £108,000,000 in a crazy growth funding round. | Startupmagstartupmag.co.uk · web

11 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Flagstone do?: Flagstone operates a UK cash deposit platform giving savers access to accounts at 65+ banks through a single application.
Who founded Flagstone?: Flagstone was founded by Simon Merchant, Andrew Thatcher in 2013.
Who are Flagstone's investors?: Flagstone's investors include Estancia, Kindred Capital, Kreos Capital, OMERS Ventures, Venture Founders, Volution Ventures.
How much funding has Flagstone raised?: Flagstone has disclosed $118.5M raised across 1 of its 6 known rounds.
Where is Flagstone headquartered?: Flagstone is headquartered in London, GB.