The digital bank Kroo bags £ 26 million of investment in Serie B

Investment

New London bank Kroo has just raised £ 26m in Series B funding, bringing the total amount of money raised since it was launched to £ 56m.

Kroo is a UK bank recently licensed for mobile only with the aim of changing people’s relationship with money forever and supporting the social causes that its customers care about most.

More than 60% of their investors have previously invested.

Andrea De Gottardo, managing director of Kroo, declared: “We are extremely satisfied with the success of the last round of financing. The phenomenal support we have received from our existing investors and the enthusiasm of new ones joining Kroo’s Serie B journey has been fantastic.

“The money raised will go a long way in supporting the market launch of our current account, the development of our loan proposal and the expansion of the company. We are very excited to offer UK customers a new digital bank that will have a positive impact on their lives. “

This investment will help the new bank with further growth and development, including hiring, expansion and social causes.

Kroo prides itself on being socially aware and having a number of initiatives in place to create change in communities, address environmental issues and simplify banking.

Challenger Kroo receives the first banking license

The company launched a referral program for customer tree planting in June 2021, has a council-level social awareness committee, and has committed to donating a percentage of its profits to social causes.

Kroo has now raised over £ 56 million in equity financing since launch after five rounds of investment rounds.

Series B lenders are made up of a consortium of new and existing investors based in the US, UK and Europe. Most of them have in-depth experience in the financial services industry.

To date, Kroo has organically grown to 23,000 prepaid cardholders, with over 120,000 transactions per month on the platform.

The C series of funding will begin in 2023.

The digital bank Kroo bags £ 26 million of investment in Serie B

Source link The digital bank Kroo bags £ 26 million of investment in Serie B

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