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128%
Raised
£384,010
Investors
523
Target
£300,000
Equity
2.78%
Pre-money valuation
£13,416,815

bnc10 is the new fintech challenger from Barcelona. In less than 9 months, bnc10 has reached 40,000 active customers who have spent +€20m. As an obtainable alternative to traditional banks, bnc10 is the first Spanish fintech to offer fully digital shared accounts, P2P payments and current account together.

  • +40,000 Active Customers & +240,000 Downloads
  • €20M worth of transactions in less than 9 months since launch
  • First Spanish fintech to offer shared accounts, P2P and current accounts
  • In less than 10mins a new user can create an account, top up and pay
Information bnc10 has raised £268,300 prior to launching their campaign on Crowdcube which is represented on the progress bar for clarity. This investment is on the same terms as offered to Crowdcube investors. £268,300 will be spent during the course of the campaign

Idea

Since launch 9 months ago, bnc10 has grown rapidly, hitting 40,000 active customers not only in the home market of Barcelona and Spain, but also in more than 20 countries across Europe.

The combination of Apple & Google Pay, instant top-up, Spanish IBAN, P2P payments and shared accounts make it a strong alternative to traditional banks. An account can be opened, topped up and first payment made in the time it takes to have a coffee.

Alongside, our anticipated shared accounts service enables bnc10 to target users from 25 to 50 years old who might share a flat, are young parents or in a relationship allowing maximum flexibility to share their everyday expenses.

bnc10 has developed its entire platform internally enabling fast development and products, leveraging Fintech partners like Mastercard, PFS and Mitek.

In bnc10 we make it happen:

- June 2019: Fast development in 12 months partnering with MasterCard and PFS

- Oct 2019: Public launch with Spanish IBAN, Prepaid Card and P2P payments

- Mar 2020: Google & Apple Pay launch in the middle of Covid break

- May 2020: Launch of the first 100% digital shared account in Spain

-July 2020: Customer Support in Whatsapp and Telegram

Next steps: bnc10 plans to keep growing in the home market of Spain, with expansion throughout Europe and Latin America, obtain its own EMI licence and boost monetisation through pay-per-use premium products.

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This pitch is approved by Crowdcube

This pitch is approved as a financial promotion by Crowdcube Capital Limited. Every pitch on Crowdcube is reviewed to ensure it is fair, clear and not misleading.

As part of our commitment to investor transparency, Crowdcube’s Due Diligence Charter outlines the analysis and verification that is conducted on equity fundraises on Crowdcube by our legal and compliance professionals.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

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