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

Chip has processed over £139 million for its 153,000 users.
Chip has processed over £139 million for its 153,000 users.
Chip has hit no. 2 in the UK AppStore, above every bank in the UK.
Chip has hit no. 2 in the UK AppStore, above every bank in the UK.
Easily connect to any bank in the UK, and upgrade to OpenBanking to turn on AI-powered saving.
Easily connect to any bank in the UK, and upgrade to OpenBanking to turn on AI-powered saving.
Soon to launch the market’s leading interest rate, whilst helping people hit their goals.
Soon to launch the market’s leading interest rate, whilst helping people hit their goals.
And if those returns aren’t enough, ChipX is built to enable returns up to 9.6%!
And if those returns aren’t enough, ChipX is built to enable returns up to 9.6%!

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.

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Risk warning

Investing in start-ups and early stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution, and it should be done only as part of a diversified portfolio. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. You will only be able to invest via Crowdcube once you are registered as sufficiently sophisticated. Please click here to read the full Risk Warning.

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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.