Kroo launched its first crowdfunding round to build a movement to change banking for good and take on the high street giants. Kroo is building a bank that puts its customer first, giving them the power and agency to influence the business and its products. Owning part of the fast-growing bank also means investors could profit from our success in the future, and the low threshold for investment of £10 ensured everyone had a fair ability to invest.
The shares offered through crowdfunding were at the same price as private investors who had already invested £14.5m in the B+ round and shares were limited and available on a first-come, first-served basis.
Investing in Kroo meant investing in a bank passionate about technology, customer-obsessed, gives back to the planet and aims to deliver profits fast. With 145,000 opened accounts and £765 million in current account deposits, Kroo is one of the 10 fastest-growing fintechs in Europe, according to Sifted.
The crowdfunding round closed having raised over £2M, exceeding its initial target by 200%. The final figures saw investment come from over 45 countries and 2,702 investors who contributed, on average over £740.
Less than a year since its current account launch, Kroo has now opened 145K current accounts, amassed £800M in deposits and aims to deliver profits faster than any other UK bank with a current account. With fresh investment from this latest round of crowdfunding, Kroo has taken the next step towards building a community of like-minded trailblazers as its values and strong market offering continue to resonate with consumers.