B-Social, a UK-based fintech that has created a banking mobile app, announced on Wednesday it secured £7.8 million through its latest seed funding round. This latest funding round comes just a little over a year after B-Social raised £3.2 million. It brings B-Social’s total funding amount to £13.25 million.
As previously reported, B-Social claims it is developing innovative services for a “new generation of customer.” The company further explained:
“Our mission is to make personal and social finances move at the speed of life. That’s why we are building an app that intuitively connects your personal finances with your social world, making it easy for you and your friends to buy, track and share the experiences that bring you closer.”
B-Social reported that more than 9,000 customers have signed up for its services and it is planning to roll out the ability to fund accounts through bank transfers, as well as launch a new brand, in the upcoming weeks. Speaking about the investment round, the B-Social team stated:
“The success of our latest fundraising round has been made possible thanks to our enthusiastic and supportive network of investors. A big thank you to our existing investors who are following-on and to our new investors joining us on our journey. All of our funding to date, has been achieved without the support of institutional investors.”
The company further added act along with the expansion of its platform it is looking to double the team in its Holborn HQ over the next year. This will include hiring Developers, Product Managers, and Product Designers.