neobank Kroo, London-based, has just finished its successful Series B call round with £26m despite the slowdown in fintech funding after its 2021 high.
With its typical features, UK bank neobank Kroo believes it will make a difference to its competitors by pledging to donate a portion of its profits to social activities. The bank currently has 23,000 prepaid card users.
“The money raised will go a long way in supporting the launch to market of our current account, the development of our lending proposal, and the scaling up of the company,” said Andrea de Gottardo – CEO.
The company will continue its Series C funding round next year. The news follows fellow UK-based neobank Starling’s £130 million raised last month.
The statement didn’t detail who has invested in the round or what valuation it places on the company. A spokesperson for Kroo didn’t immediately respond to a request for further information.
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