Kroo (bank)

Last updated
Kroo Bank Ltd
Company type Ltd.
Industry Banking
Founded2022
FoundersNazim Valimahomed
Headquarters20 Farringdon St,
London, EC4A 4AB
,
United Kingdom
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]

Contents

History

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] B-Social Ltd rebranded as Kroo in 2020 [9] 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. [10] [11] In 2021, chief risk officer Andrea De Gottardo became CEO of Kroo. [12] In November 2023, Kroo started a crowdfunding that raised £1 million in its first few hours and £9.5 million by the end of the campaign. [13] In November 2024, Kroo reached £1 billion in deposits. [14] [15]

Services

Kroo is a digital bank with a mobile app, and no branches. As of July 2025, Kroo Bank offers current accounts, savings accounts, a cash ISA and personal loans. [16]

See also

References

  1. ↑ "Kroo Bank (2023) total assets (2023)" (PDF). Kroo Bank (2023). Retrieved 24 July 2025.
  2. ↑ "Kroo Bank (2023) total assets (2023)" (PDF). Kroo Bank (2023). Retrieved 24 July 2025.
  3. ↑ https://find-and-update.company-information.service.gov.uk/company/10359002
  4. ↑ https://kroo.com/blog/b-social-the-social-financial-company
  5. ↑ "Nazim Valimahomed". FF News | Fintech Finance. Retrieved 2025-08-01.
  6. ↑ Salter, Philip. "Foreign-Born Founders Behind 39% Of The UK's Fastest-Growing Companies". Forbes. Retrieved 2025-08-01.
  7. ↑ Jones, Jess (Dec 4, 2023). "One of the UK's fastest growing fintechs says it will outpace Starling soon". CITY AM.{{cite web}}: CS1 maint: url-status (link)
  8. ↑ Thornhill, John (Aug 22, 2023). "Is the UK losing some of its pull for foreign founders?". Sifted. Retrieved 2025-08-28.
  9. ↑ Hinchliffe, Ruby (February 27, 2020). "UK fintech B-Social raises £7.8m ahead of 'Kroo' rebrand". Fintech Futures. Retrieved August 1, 2025.
  10. ↑ "Kroo: the new bank delivering sustainability with interest". www.marqeta.com. Retrieved 2025-08-28.
  11. ↑ https://www.fintechfutures.com/bankingtech/uk-challenger-kroo-lands-licence-to-build-social-bank
  12. ↑ Shibli, Aliya (Jan 31, 2025). "Kroo Bank soldiers on in UK's tougher market". www.thebanker.com. Retrieved 2025-08-01.
  13. ↑ "Kroo exceeds £1M crowdfunding target with investments made on average every minute". FF News | Fintech Finance. 2023-11-15. Retrieved 2025-08-28.
  14. ↑ Kular, Dalvinder (2024-11-14). "Kroo Bank reaches £1bn in customer deposits". FStech. Retrieved 2025-08-01.
  15. ↑ Reynolds, John (2024-11-21). "UK challenger bank Kroo considers offering investment products". Tech.eu. Retrieved 2025-08-01.
  16. ↑ https://www.forbes.com/uk/advisor/banking/kroo-bank-review/
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