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Kroo Bank
Social banking
- 201-500 employees
- Fintech
- B2C
- Banking
- Personal finance
- Social
- LABS House, 15-19 Bloomsbury Way, London, England WC1A 2TH, GB
Company mission
Kroo's mission is to make personal and social finances move at the speed of life.
Insights
Otta's take
Theo Margolius
COO of Otta
Kroo's digital-only current account allow users to control spending, track expenditure and create groups between friends to settle bills. The company is establishing itself as a bank with a social conscious by offering degradable cards, a tree planting scheme, and donating a percentage of its profits to social causes.
In 2022, Kroo became a fully authorised retail bank. This means the company can offer its 20k+ customers personal current accounts, overdrafts, loans and savings, which will be key in setting Kroo apart in the FinTech industry.
Ultimately, Kroo wants to change the relationship people have with money by helping them overcome the anxiety and awkwardness when they engage with their social finances. They are doing that by building a digital bank that truly accommodates the way people live their lives and is dedicated to connecting a person’s finances to their social world. This is further exemplified by its crowdfunded venture capital round in November 2023 which allowed customers and investors to buy for as little as £10. This investment strategy
Benefits
- 35 total days holiday (25 annual leave, 8 bank holidays, 1 Kroo bank holiday, and 1 day off during the week of your birthday)
- 3 personal health days
- An employer-sponsored volunteer programme (up to 4 hours per month supported by our partner Matchable)
- Access to Spill, our mental health support partner
- A workplace pension, with 5% employee contribution and a 3% employer top off
- After 1 year of service, access to £500 from the Kroo Learning Fund for career-related L&D
- All equipment you need to work remotely effectively, with a MacBook Pro as standard
- Access to our modern, bustling office in Holborn, Central London, includes a full gym
- Access to our cycle to work and electric car schemes
- An enhanced parental leave policy
- Room to grow and excel within a fast-paced, high growth start-up
Company values
- Do what’s right, not what’s easy
- In it together
- Think big and deliver
- Move fast, learn quickly
Funding (last 2 of 6 rounds)
Nov 2023
$1.9m
LATE VC
May 2022
$33m
SERIES B
$73.4m
Total funding
This company has top investors
Founders
Nazim Valimahomed
(Chief Product and Design Officer)Studied Economics & Actuarial Science at Western University. Previously Chairperson at Publicis Media for 5 years. Former CEO of Kroo before moving onto new role.
Tim Brown
(Chief Creative Officer)Previously Senior Art Director at BBDO Worldwide for 2 years and Executive Creative Director at McCann for 3 years.