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London-based Kroo raises £17.7 mn to drive mobilisation phase

The funding round was led by tech entrepreneur and founder of Karlani Capital, Rudy Karsan

London-based fintech startup Kroo has raised around £17.7 million in its Series A funding round to drive its mobilisation phase, media reports said. The funding round was led by tech entrepreneur and founder of Karlani Capital, Rudy Karsan.

CEO Andrea de Gottardo told the media, “We want to build the world’s greatest social bank: a bank dedicated to its customers and to the world we live in. We’re going to do more than just work with Kroo customers to improve their relationship with money and provide them with access to fair loans. We’re going to offer them ways to actively take part in making our world a better place, like carbon offsetting and a tree-planting referral programme.”

To be launched in 2022, what Kroo offers is it allows its users to track their personal and social finances – enabling them to create groups with friends, track spending, and split and pay bills quickly and securely.

Earlier this month, another London-based fintech startup FintechOS raised nearly £7.2 million from the International Finance Corporation (IFC), a member of the World Bank. The funding is a part of FintechOS’ Series B funding round where it raised around £36 million.

“Digital financial services are critical to boosting financial inclusion and driving inclusive growth. While the pandemic has increased the use of these services, it has also highlighted that many financial institutions are struggling to overcome the digital transformation challenges necessary to include the financially excluded, ”Henrik Bläute, Investment Officer, IFC told the media.

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