Jaja Finance, a UK-based fintech startup, is now seeking £3 million through its equity crowdfunding campaign on Seedrs. This news comes after the launch of the company’s new mobile-first credit card, Jaja, which is managed entirely through the Jaja app, is designed to liberate consumers by redefining the consumer experience, making credit cards simpler, fairer and easier to manage.
As previously reported, Jaja Finance was founded in 2016 and is on a mission to create “beautiful simplicity where there is needless complexity.” The company stated:
“We believe your money should be as fluid as your life. And the credit card as we know it is anything but. It’s a product that is traditionally overly complicated, loaded with hidden fees and cumbersome to manage. It just makes no sense to us. In a world where you can Uber a taxi or Deliveroo your next meal – why can’t you manage your credit card in the same way – at the touch of a button, in an instant.”
Jaja is authorized and regulated by the FCA as an Authorised Payment Institution and Consumer Credit Firm and Principal Member of Visa, allowing the issuing of cards on behalf of third parties. The company noted it has already launched instant online credit for its partner ASDA (part of Walmart) and issued/tested the Jaja app and card successfully with its partner, Visa. Funds from the Seedrs round will be used for the following:
- Launch 5,000 BETA credit cards in order to create a loyal community, and gain momentum around launch
- Operations and 24/7 customer service
- Customer acquisition/distribution/marketing activities
Since launching, the Jaja Seedrs round has raised more than £2.8 million. It is set to close at the end of December.
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