Kroo doesn’t seem to be doing as bad as this thread would suggest, that is if they’re able to fill their Series C as they intend to…
After opening its accounts to customers less than a year ago and reaching nearly £750m in deposits, in an unusual move digital bank Kroo has pre-announced its Series C funding round.
In a statement yesterday Kroo said it “is looking to raise £55m - £70m to enhance and develop its product offer, grow its customer base and build its quality loan book.”
As well as revealing the in-progress Series C round, Kroo said that going forward it will pay its customers a new ‘tracker’ rate of interest, set 0.9 per cent lower than the Bank of England rate.