2014年，24岁的Ollie Purdue还在上大学三年级，但是各种糟糕的财务管理app和银行界面让他对当时的数字银行服务失望透顶。于是就在同一年，Ollie Purdue创立了Loot。他希望借助大数据分析和预测帮助年轻人提高理财效率。2016年，Loot推出了全面现金账户，内含理财工具，希望借此打入传统银行市场。Loot目前的弱势在于还没有拿到金融服务牌照，这意味着该平台现在只能提供基于财务数据的分析服务。不过一旦获得监管批准，未来或许会推出贷款、财富管理和外汇等金融产品。
A London-based digital banking service, Loot, has raised ￡2.2 million A-round funding, in a round led by Power Corporation’s corporate VC, Portag3, and Speedinvest. The ‘neo-bank’ is used by over 50,000 people, and aims to expand its reach to Millennials across Europe.
Loot is aimed at users who increasingly run their lives from their smartphone, which is a projected 38 million Brits between 16 and 65 in the UK alone. Ollie Purdue, the 24-year-old founder of Loot, created the company in 2014 in his final days at university after struggling with money management apps and clunky banking interfaces at university. His vision was to change the relationship between young people and their money, no matter how high or low their balance. In December 2016, Purdue launched Loot’s full current account, designed to replace the conventional bank, including built-in tools to help manage money.
The latest investment will be used to help implement the mid-term plan to make Loot fully automatic, while looking to see how they can integrate the best social features into the platform.
“Loot has already had a huge impact on their target market, which consists predominantly of students and young professionals,” Steph Choo, managing partner at Power, said. “We’re looking forward to Loot’s expansion over the next year and beyond.”
The new funding will also be used to take on the competition, which Purdue admits is on the rise. “I guess there are two types of competition for us at Loot. The banks and the money management apps,” he said. “The banks have significant market share, but struggle with helping people understand their money, and, in my opinion, they also struggle with tech and branding.”
“For example, since I started Loot, my Natwest app hasn’t materially changed in any way I would notice it. That’s too slow for me as a user,” he added. “The new fintech banks are much better at this, but none of us are at scale yet. Money management apps approach the user problems at a different angle but as they don’t own the accounts, it’s hard to be proactive for the user as you can’t help them move their money. Also, with a money management app you are still stuck with having to choose a bank! At Loot, we are trying to merge the two so we can be the only financial account you need.”