Chip's mission is to build the best saving & investments account in the world. With 250,000 savers, deposits up 110% this year, full FCA authorisation achieved in March, launch of FSCS market-leading rates, and investment funds coming soon Chip is now raising its biggest investment round to date.
In times of uncertainty, we have all become more conscious of our financial security. Since the pandemic gripped the UK earlier in the year Chip have rapidly grown their customer base and deposits, exceeding their 2020 targets already. They now have over 250,000 users, processed over £165m in savings, achieved full FCA authorisation and launched FSCS eligible interest accounts with market-leading rates.
Chip aspires to be the category-defining saving and investments platform for the mobile generation - addressing what they believe to be 100m customers and 30 trillion of assets across Europe.
They've started with autosaving and seamless access to market-leading saving accounts; now with the launch of their premium account ChipX they are evolving to investment funds, ISA’s and LISAs and ultimately pensions.
Back in 2017 Chip first invited their savers to join their journey and invest in the business. Their investor community is now among the largest in UK Fintech (11,000+) with over £11m raised to date.
In line with their cooperative approach, they’re opening up their investor community to new and existing investors to participate in this convertible round while they remain in active discussions with venture capital funds to secure a follow up investment.