UK fintech Pockit announces new $10 million funding round

UK fintech Pockit has raised $10 million in a growth round from some new partners Puma Private Equity and The North East Development Capital Fund, managed by Maven Capital Partners and supported by the European Regional Development Fund.

Pockit are passionate about democratising financial services for millions left behind by traditional banks. Not just providing essential financial tools to low-income and underserved communities, but empowering them to achieve financial stability and growth.

Today, more than 800,000 people across the UK trust Pockit to provide vital financial services and this latest investment will fuel their efforts to expand their services, reach more customers, and make an even greater impact in the lives of those who need it most.

Virraj Jatania, Founder and CEO of Pockit, said, “For too long, low-income and underserved communities have been let down and left behind by financial services. At Pockit, we’re committed to not only opening doors for these people, but giving them the tools and support they need to feel financially empowered. It’s a problem that has been growing for years, and in the wake of the current economic climate, it’s only set to become more entrenched and more devastating for millions. We want to be the financial champion for those who need it most and this funding allows us to continue being there for even more people in many more ways.”