London-based FinTech Pockit has raised $10m to democratise financial services for low-income and underserved communities.
In brief:
-Since launching, Pockit has amassed more than 800,000 users across the UK and processed around $5bn.
-The raise, led by Puma Private Equity and with participation from The North East Development Capital Fund, brings Pockit’s total funding to $50m.
-It now has a suite of products that include current accounts, international transfers, income advance, cashback and budgeting.
What does this mean?
“We believe Pockit's services will become increasingly important in addressing financial exclusion across the UK and beyond and we see tremendous potential thanks to its tech-powered, partnership-led approach and the fact its customers and its needs are so core to everything it does.”
