 | |
| Company type | Ltd. |
|---|---|
| Industry | Banking |
| Founded | 2022 |
| Founders | Nazim Valimahomed |
| Headquarters | 20 Farringdon St, London, EC4A 4AB , |
Area served | United Kingdom |
| Services | Retail banking |
| Total assets | 873.918M [1] |
Number of employees | 223 [2] |
| Website | https://kroo.com/ |
Kroo Bank Ltd, is a British online bank based in London. [3]
Kroo Bank was founded in 2022 by Nazim Valimahomed as B-Social, offering an app based debit Mastercard issued by Wirecard Card Solutions Ltd. [4] [5] [6] Valimahomed founded the bank after previously selling an ad company to French advertising conglomerate Publicis and becoming disenchanted with the UK's "terrible" banking system. [7] [8] Prior to founding the bank, Valimahomed fled Uganda, then under the control of military dictator Idi Amin, as child refugee, before eventually making his way to the UK. [9]
B-Social Ltd rebranded as Kroo in 2020 [10] and was granted a full banking license by the Bank of England in 2022, one of only four banks to be granted a new license since 2013. [11] [12]
In 2021, chief risk officer Andrea De Gottardo became CEO of Kroo. [13] In November 2023, Kroo started a crowdfunding, using platform Crowdcube, that raised £1 million in its first few hours and £9.5 million by the end of the campaign. [14] [15] In November 2024, Kroo reached £1 billion in deposits. [16] [17]
Kroo is a digital bank with a mobile app, and no branches. Kroo offers interest on all accounts. [18] As of July 2025, Kroo Bank offers current accounts, savings accounts, a cash ISA and personal loans. [19]
{{cite web}}: CS1 maint: url-status (link)