This site uses cookies. By using this site you agree to receiving cookies. View Policy.

376%
Raised
£3,768,260
Investors
6897
Target
£1,000,000
Equity
9.29%
Pre-money valuation
£36,786,000

Chip is on a mission to build the best savings account in the world. Over the last year it has doubled growth to 153,000 accounts, processed £130m of savings and welcomed management executives from Monzo, Funding Circle & Purple Bricks. Chip is now scaling with market-leading returns on ChipX.

  • 153,000 accounts, processed £130m of savings.
  • ChipX returns-platform waiting list of 50,000 people.
  • Winner British Bank Award, World Banking Award & 2 Crowdcube awards.
  • Existing investor community of over 8,000 people

Idea

In times of uncertainty, people need to save. Chip's growth has proved that, doubling the user base since their last fundraise in 2018.

Chip connects to your current account, saves automatically and provides the best possible return. The average UK adult saves only 1.7% of their income, earns less than 1% on savings, but spends 3.54% of income paying interest on overdrafts, credit cards, and loans.

Since launch in 2017, Chip has grown rapidly to 153,000 users, processed over £130m in saves and offered market-leading interest rates.

Following their last funding round (previously Crowdcube's most popular investment of all time by number of investors), together with their investor community they've rolled out a new version of the app, doubled the user base, quadrupled the team and have 50,000 people in the queue for their returns platform ChipX.

ChipX will offer a marketplace of “returns” products that aims to revolutionise how people manage savings. This includes products designed to get you up to 9.6% returns at differing risk levels. The marketplace will include bonds, P2P products… with Chip’s very own CommunityLending at the heart. Users can access this marketplace for a subscription fee.

Funding is required to double the team and expand ChipX in the €10 trillion European savings market and beyond. Chip has proved demand and strong growth. Now it’s time to scale.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

To see the rest of the Chip pitch, join now. It's free, quick and easy.

Due to financial regulations, you need to join our community to view the full investment opportunity.

Join

Already registered?
Log in

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.

Chip has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.