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224%
Raised
£1,124,580
Investors
1097
Target
£500,000

Convertible round

Rather than investing and immediately receiving shares, in this round payments will be transferred directly to the company and shares issued at a future date. A convertible allows a company to raise funds without having to agree a valuation. For more information please view our FAQs.

1.7 billion people around the globe do not have a bank account, and 11 million are financially underserved by mainstream banks in the UK. Pockit is building an all-in-one financial membership that works for the many. With over 500K registered users, Pockit is crowdfunding to make better financial services accessible to even more people.

  • Over 500k registered users to date
  • Transactional value of over £1BN
  • Backed by investors who have also invested in Spotify, Bolt and Telegram
  • Over a third of our growth comes from word of mouth
Information The company has applied to the Future Fund for funding to match the amount raised through Crowdcube. This has been reflected on the progress bar to indicate the total round size. Please see the key terms document on the pitch for a summary of these terms.

Idea

11 million people struggle with restricted access to financial services in the UK. This exclusion heightens poverty and inhibits social mobility, and Pockit believes it is one of the least discussed social problems of our age. Pockit is on a mission to change this.

Virraj Jatania’s family has conducted a lot of business in emerging markets, seeing firsthand the challenges faced by people with no access to a current account, who rely on cash, cheques or family accounts to manage their income. This need sparked the idea to build a solution.

Pockit offers its 500,000 registered users access to a current account they can open in minutes. With a Pockit contactless prepaid Mastercard®, customers can send and receive money, make payments online and in-store. They can also send money abroad to over 29 countries.

But this is only the beginning. Since launching in 2014, Pockit has built partnerships to enable customers to improve their credit scores and earn cashback when shopping for essentials.

Pockit has raised over £24M so far from leading investors. This investment has allowed Pockit to scale and process over £1B in transactions for users.

Pockit does not plan to stop here and will continue scaling the business, which is why it is fundraising. This crowdfund will allow them to reach the next step of their journey to provide smarter financial services to even more people across the globe.

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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.