8 years ago

Pockit Raises £2.9 Million for Remittance Service Expansion

  • Pockit, a mobile banking app for the underbanked in the UK, has raised £2.9 million in bridge funding before a planned Series B later this year

  • The company will soon launch a remittance service to allow its users to send money abroad, starting with Poland and Italy

  • Pockit also plans to offer overdrafts and insurance products, and to help its users improve their credit scores

  • The company has previously raised £10 million from investors including the Jatania family, Concentric Ventures, payments entrepreneur Harold Mechelynck, investor Jon Moulton, Mothercare CEO Mark Newton-Jones, and former Manchester United manager Sir Alex Ferguson.

      • ProblemFinancial Services

      "underbanked people in the UK face financial exclusion and limited access to cost-effective digital banking products"

      Solution

      "Pockit offers a mobile banking app with current account functionality, targeting the underbanked population, and provides cost-effective digital banking products, including a new remittance service"

      Covered on