UK Fintech Kroo Raises £17.7 Million in Series A Funding Round

Kroo, a UK-based financial technology company developing innovative services for a new generation of customer, announced that it has raised £17.7m in the Series A funding round, which was led by Rudi Karsan, founder of Karlani Capital.

Kroo plans to use the fundraising to build a market-leading current account and overdraft, grow the incredibly talented team and, moreover, secure a full banking license.

Launched in February 2019, the fintech is dedicated to removing friction from financial interactions with friends and family, and is initially offering a prepaid debit card. 

Kroo is authorised as a bank by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Currently, its authorisation is limited, which is the final step before the company becomes a fully licenced bank.