Snoop, the money-saving app created by former Virgin Money CEO Jayne-Anne Gadhia, has been acquired by Vanquis Banking Group.
Snoop connects to a customer’s bank accounts and credit cards using Open Banking technology, searching the data for opportunities to save money on bad deals, underwhelming renewals, and wasteful subscriptions. Following its establishment in 2020, the company raised EUR 15 million in Series A funding from American investment management company Paulson & Co. Inc.
Additionally, it raised EUR 10 million through a crowdsourcing effort. Snoop will benefit from the acquisition’s significant scale and new funding for business expansion.