Live
Pockit
Pockit is a digital account provider offering pre-paid spending cards and current accounts.
$6.7m
TOTAL INVESTMENT
London
LOCATION
Technology
Sector
July 2023
INITIAL DEAL
Overview
In July 2023, Puma Private Equity deployed £5.25m of equity into digital account provider, Pockit, and led its successful overall $10m growth funding round.
About Pockit
Pockit provides pre-paid spending cards and current accounts primarily to customers from under-served communities. Having started as a prepaid card, Pockit has evolved to allow anyone – including those across the UK who generally can’t access basic financial services – to open a current account and access financial services. The app allows customers to send and receive money internationally, set up direct debits, make online and in-store purchases, and even get an advance on their salary, should an unexpected expense arrive.
With an estimated 20.2 million adults across the UK are financially under-served, Pockit provides customers with a full bank account and prepaid card, in a bid to tackle financial exclusion, and ultimately improve social mobility.
THE COMPANY'S VIEW
OUR VIEW