Pockit, a UK fintech company that helps low-income and underserved customers with financial services, has raised USD 10 million in a growth round that was headed by Puma Private Equity.
Pockit, which began as a prepaid card, now enables anyone to open a current account in minutes, including the 20.2 million people in the UK who the company claims cannot access basic financial services.
Users can send and receive money internationally, set up direct debits, deposit and withdraw cash in 27,000 stores across the UK, make online and in-store purchases, and get an advance on their salary. Along with tools for budgeting and credit building, the app also offers cashback rewards and customer benefits.
Read More: UK financial app Pockit raises $10m