30 November 2023

Kroo leads FinTech innovation, exceeding £2m crowdfunding target with global support

Written By FinTech Alliance

Kroo leads FinTech innovation, exceeding £2m crowdfunding target with global support

Kroo, has closed its crowdfunding round today, amassing a staggering £2,009,559.12 more than double of its initial target of £1m.

In brief:

- Kroo’s mission is to transform banking for the better, offering a customer-centric approach.

- In less than a year since launching its current account, the bank has opened 145K accounts and accumulated £800m in deposits.

- They attracted 2,702 investors from over 45 countries, Kroo’s funding round saw an average investment of over £740.

What does this mean?

Nazim Valimahomed, Co-Founder and Chief Product and Design Officer at Kroo, also shared his thoughts, “The current banking system is simply broken. We know it, and so does our community. Beyond our strong market offering in the face of rising interest rates, our socially conscious values and approach of doing things differently has resonated with those seeking an alternative to the old systems of banking. We are excited to be joined at the table by so many supporters and likeminded trailblazers and are now even more empowered to disrupt the industry further and become an even bigger voice in the sector as we call for change.”

 

Read more here

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