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

Successfully funded
Capital at risk
overfunded
Chip
383%
Raised
£3,837,290
Investors
6430
Target
£1,000,000
Equity
21.04%
Pre-money valuation
£14,400,000

Chip is on a mission to build the best savings account in the world. With rapid growth to 75,000 accounts, £58m of savings processed and £36m of deposits since receiving Crowdcube's 3rd ever biggest raise in terms of investors last year, we continue to target the €10trn European savings market.

  • 75,000 accounts, £36m in deposits which are now growing at £5m a month
  • Plans to launch ChipX community lending - January 2019
  • OpenBanking connections to Monzo, Starling & Revolut
  • Featured by MoneySavingExpert, BBC, TheGuardian, The FT & Independent

Idea

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.

Chip connects to your current account, saves automatically, provides the best possible returns and can reduce the cost of borrowing.

Since launch Chip has grown rapidly to 75,000 users, processed over £58m of saves, has £36m of deposits & is connected to accounts with £130m of outstanding debt.

Following their Angel funding (Crowdcube's 3rd most popular investment of all time by investor number), together with their investor community they've built new features, created strong viral growth, and now plans to start lending as an appointed representative with ChipX.

From January 2019 ChipX offers returns of up to 8% powering Chip's community lending. OpenBanking and Chip's AI algorithms empower consumers to earn better returns by eliminating the bank's margins.

Funding is required to onboard the waiting list & roll out all new features including instant saves, transaction roundups, FSCS protection, base interest of 1.5%, smart goals, squad goals, save matches and the best returns possible with ChipX.

In the next 4 years, Chip projects 1.5m users and £2.2bn of deposits. Investors expect to well exceed this modest target and substantially disrupt the European 10 trillion savings market.

Disclosure: The company has loans

THE MATERIALS YOU ARE SEEKING TO ACCESS ARE BEING MADE AVAILABLE BY THE COMPANY RAISING FINANCE AS IDENTIFIED ABOVE (THE "COMPANY") IN GOOD FAITH AND FOR INFORMATION PURPOSES ONLY AND SUBJECT TO THESE TERMS AND CONDITIONS.  CROWDCUBE CAPITAL LTD IS AUTHORISED BY THE FCA AND CARRIES OUT DUE DILIGENCE ON EACH COMPANY THAT LISTS ON CROWDCUBE AS SET OUT HERE.
 
This investment opportunity is not an offer to the public and is only available to registered members of Crowdcube.com who have qualified and categorised themselves as able to invest.  The investment opportunity is not directed at persons located in the United States, Canada or Japan. Any person resident outside the United Kingdom who wishes to view these materials must first satisfy themselves that they are not subject to any local requirements that prohibit or restrict access.
In particular, unless otherwise determined by the Company and permitted by applicable law and regulation, it is not intended, subject to certain exceptions, that any offering of the securities mentioned in such materials (the "Securities") by the Company would be made, or any documentation be sent in or into, the United States, Canada or Japan.  There will be no public offering of the Securities in the United States.
 
In order to access the pitch you must first become a qualifying member of Crowdcube on the basis of your status as either (i) self-certified ‘high net worth investor’, (ii) certified ‘sophisticated investor’, (iii) self-certified as a ‘sophisticated investor’ or (iv) certified as a ‘restricted investor’, in each case in accordance with the FCA’s Conduct of Business Sourcebook Chapter 4.7.  Potential investors are encouraged to "cross examine" the Company by interactive due diligence and use of the available online forums to bring the "wisdom of the crowd" to bear.  Accessing the pitch also means you agree to Crowdcube’s most recent website terms and conditions and investor terms and conditions, which include Crowdcube's limitation of liability.
 
If you are not permitted to view materials on this webpage or are in any doubt as to whether you are permitted to view these materials, please exit this webpage.  Crowdcube’s or the Issuer’s press announcements and this information page do not constitute an offer to sell securities of the Company.  Further, it does not constitute a recommendation by the Company, Crowdcube or any other party to sell or buy securities in the Company.
 
By registering or logging into Crowdcube.com to view the investment opportunity, you certify that you are legally entitled to view the investment opportunities, are an authorised investor and you agree to all applicable terms and conditions on this website, including this disclaimer.

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

Join

Already registered? Log in

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

Chip

Join to read more information about the Chip team, documents, and what other investors are saying about the pitch.

If you choose to invest we won’t take your money until the pitch closes and you can cancel your investment at any time.

Crowdcube is a leading investment crowdfunding platform

Successfully Invested
£562m+
Registered Investors
647k+

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

Chip

Join to read more information about the Chip team, documents, and what other investors are saying about the pitch.

If you choose to invest we won’t take your money until the pitch closes and you can cancel your investment at any time.

Did you mean ?
Your nickname will be publicly visible on your Crowdcube user profile, and associated with your activity.

Crowdcube is a leading investment crowdfunding platform

Successfully Invested
£562m+
Registered Investors
647k+

Finally, what type of investor are you?

As an FCA regulated platform we’re required to record what type of investor you are. Don’t worry though - we won’t ever share it with anyone and it won’t affect what investments you’re able to see.

Anyone can become an Everyday Investor. You just need to agree to invest no more than 10% of your net assets into company shares, bonds, funds or any other securities which are not listed or sold on a stock exchange. “Net assets” in this case means all of your financial resources, apart from the value of your main home, after deducting your expenses and any debts you may have.. This is why the Financial Conduct Authority refer to them as ‘Restricted Investors’. Everyday Investors are the 'crowd' and the majority of investors will fall into this broad category.

I make this statement so that I can receive promotional communications relating to non-readily realisable securities as a restricted investor. I declare that I qualify as a restricted investor because:

  • in the twelve months preceding the date below, I have not invested more than 10% of my net assets in non-readily realisable securities; and
  • I undertake that in the twelve months following the date below, I will not invest more than 10% of my net assets in non-readily realisable securities.

Net assets for these purposes do not include:

  • the property which is my primary residence or any money raised through a loan secured on that property;
  • any rights of mine under a qualifying contract of insurance; or
  • any benefits (in the form of pensions or otherwise) which are payable on the termination of my service or on my death or retirement and to which I am (or my dependants are), or may be entitled.

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me to seek advice from an authorised person who specialises in advising on unlisted shares and unlisted debt securities.

I am an existing client of a financial advisor or wealth manager and they will provide me with advice about whether this investment (or investments found through this site) are suitable for me.

I make this statement so that I can receive promotional communications relating to non-readily realisable securities as an advised investor.

I declare that I qualify as an advised investor because:

  • (a) I am already a client of a regulated firm, such as an Independent Financial Adviser or Wealth manager; (“my financial adviser”); and
  • (b) My financial adviser will advise my about whether any investment are suitable where I viewed the investment details through Co-Investor’s website.

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested.

This group is for people who have invested in more than one unlisted company (including via Crowdcube) in the last two years or been a member of a business angel syndicate or network for at least six months.

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-readily realisable securities. I understand that this means:

  • I can receive promotional communications made by a person who is authorised by the Financial Conduct Authority which relate to investment activity in non-readily realisable securities;
  • The investments to which the promotions will relate may expose me to a significant risk of losing all of the property invested.

I am a self-certified sophisticated investor because at least one of the following applies:

  • I am a member of a network or syndicate of business angels and have been so for at least the last six months prior to the date below;
  • I have made more than one investment in an unlisted company, including via Crowdcube, in the two years prior to the date below;
  • I am working, or have worked in the two years prior to the date below, in a professional capacity in the private equity sector, or in the provision of finance for small and medium enterprises;
  • I am currently, or have been in the two years prior to the date below, a director of a company with an annual turnover of at least £1 million.

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-readily realisable securities.

If you earn more than £100,000 a year or have net assets of more than £250,000, the High Net Worth category is probably applicable to you.

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

  • I had, throughout the financial year immediately preceding the date below, an annual income to the value of £100,000 or more;
  • I held, throughout the financial year immediately preceding the the date below, net assets to the value of £250,000 or more.

Net assets for these purposes do not include:

  • the property which is my primary residence or any money raised through a loan secured on that property;
  • any rights of mine under a qualifying contract of insurance; or
  • any benefits (in the form of pensions or otherwise) which are payable on the termination of my service or on my death or retirement and to which I am (or my dependants are), or may be, entitled.

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me to seek advice from an authorised person who specialises in advising on non-mainstream pooled investments.

By joining, I agree to Crowdcube's terms and conditions, the conditions set out in the above investor statement as of 11th December 2018, and confirm that I have read Crowdcube's privacy policy.

Congratulations!

You've now joined our crowd of over 647,074 people.