Pockit: The fintech app empowering low-income communities raises $10M
Summary
Fintech app for low-income and underserved communities, Pockit has raised $10 million in a growth round. Initially a prepaid card the UK-based fintech has moved its offering to include a prepaid account from which customers can send and receive money internationally, set up direct debits, deposit and withdraw cash in 27,000 stores across the UK, make online and in-store purchases, and even get an advance on their salary. At Pockit, were committed to not only opening doors for these people, but giving them the tools and support they need to feel financially empowered. Its a problem that has been growing for years, and in the wake of the current economic climate, its only set to become more entrenched and more devastating for millions. We want to be the financial champion for those who need it most and this funding allows us to continue being there for even more people in many more ways," says Virraj Jatania, CEO and founder of Pockit.