Koto is an FCA-authorised, app-based challenger lender built on e-money that offers two transparent, fixed-fee credit products and a virtual Mastercard accepted wherever Mastercard is accepted. It targets the UK’s roughly 12 million ‘near-prime’ consumers—people with inconsistent income, thin files, or marks on their credit history—who have fewer mainstream credit options. Koto uses a hybrid scoring model combining Experian Delphi with proprietary machine-learning modules adapted from sister company Monobank to expand eligibility and assess repayment likelihood. The company is community-driven and mobile-first, prioritising an easy user experience and feature development driven by customer requests. Koto plans to use the recently closed funding to acquire its first 50,000 users, train its AI credit-risk systems, expand operational capacity, refine UK marketing, and grow the team. Leadership includes Executive Chairman Misha Rogalsky (co-founder of Monobank) and CEO Rob Escott, who previously ran Credit Operations at Vanquis Bank and worked at Deloitte and KPMG.

Total raised

$2M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2020