Pockit, a London, UK-based prepaid card provider, completed an over £1m first round of funding.
Investors included Sir Alex Ferguson (Manchester United legend) and Mark Newton-Jones, the interim CEO of Mothercare, Denis Shafranik, Simon Barklem and Ian Langley.
The company intends to use the funds to increase its marketing efforts.
Founded by Danny Jatania, Yuvraj Jatania and Virraj Jatania in late 2011, Pockit provides a prepaid card to save and manage money. It enables cardholders to benefit from ongoing discounts and cashback from a range of service providers and retailers. In addition to this, they can share information and advice with one another through the Pockit community forum.
The card is issued under the MasterCard brand, which means it can be used in more than 30 million locations globally as well as at ATMs.
Partners currently include Aviva, RAC, TalkTalk, First:Utility, Travelpack and Munroe Sutton. Retail partners are B&Q, Marks & Spencer, Toys R Us, H Samuel, New Look, Comet, Red Spotted Hanky (train travel), Jessops, Theatre Tokens and Halfords.
FinSMEs
19/05/2014