B-Social, a FinTech building a ‘social bank’, has raised $7.8mn additional seed funding.
In Brief:
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The capital injection reportedly comes from high net worth individuals.
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Total capital raised by BSocial is now £13.25mn.
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The company will rebrand as Kroo next month.
What does this mean?
Currently, B-Social exists as a ‘social finance’ app with an accompanying Mastercard debit card. It allows users to make purchases and keep track of expenses with friends and family. It will now continue its journey to become a fully licensed bank as it rebrands.
