London-based PayTech Pockit has announced that it has secured $10m in a growth round.
The cash injection was primarily raised by Puma Private Equity who led the round, which also featured participation from The North East Development Capital Fund.
This latest tranche bring Pockit’s total raised to around $50 million as the company looks to enhance its credit building tools.
Founder and CEO of Pockit, Virraj Jatania told TechCrunch in an email: “This new fundraise stands us in good stead to weather future headwinds and continue to build products to meet the needs of the market.
“Our challenge is to continue to grow steadily and responsibly while ensuring we’re a service that people can rely on.”
Pockit prides itself on democratising the financial services for the “millions left behind by traditional banks.”
Today, more than 800k people across the UK trust them to provide vital financial services. It is hoped that this latest investment will fuel Pockit’s efforts to expand its service and reach more customers.
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