Loot is a London, UK-based digital banking startup that provides a full current account and tools to manage money via an app. The company was created in 2014 by Ollie Purdue and launched its app in December 2016. The app has been used by over 50,000 people and is available on iOS, Android and the Web. Loot secured £2.2m in funding in this round, bringing total funding to date to £6m. The company plans to use the funds to implement a mid-term plan to make Loot fully automatic and to explore integrating social features into the platform. Loot is a London-based provider of a banking app aimed at millennials. Led by CEO and founder Ollie Purdue, the app helps users monitor what they can do, when, and how much it will cost. Customers can set up an account in minutes by submitting a photo, an ID/passport and a UK address; once approved they receive a prepaid Loot MasterCard plus a sort code and account number. The Loot MasterCard and account are provided by Wirecard Card Solutions Ltd, which is authorized and regulated by the Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900051). Loot raised $2.5M in funding from SpeedInvest and Global Founders Capital and is using the funds to expand in Europe. The company is based in London, UK.

Total raised

$5M

Funding rounds

2

Latest round

Series A

Latest activity

Dec 2017