Pockit, a FinTech that aims to serve the underbanked in the UK, has raised £15mn.
In Brief:
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This was through the firm’s Series B funding round which included new and existing investors.
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It also included £500,000 in matched funding from the British Business Bank as part of the Future Fund.
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Pockit chose to raise through a crowdfunding campaign on Crowdcube.
What does this mean?
Investors in the campaign will receive a Convertible Loan Note in exchange for the funding. Pockit helps customers who may not have had access to a current account before manage their finances better. The Covid-19 pandemic has highlighted economic vulnerability in society so investing in these solutions is very timely as we move into 2021.
