Fintech Chip Nears £5 Million Raised in Return to Crowdcube

Chip, an early-stage Fintech, has returned to Crowdcube to raise another funding round.

In 2021, it was reported that Chip raised £11.5 million in a funding round listed on Crowdcube. At that time, Chip saw almost 13,000 investors support the firm in an equity offering with a pre-money valuation of £86 million. Chip was recognized as the biggest equity crowdfund of the year.

Today, Chip is raising equity at a pre-money valuation of £167,860,000. Currently, Chip has raised almost £5 million, supported by almost 5,000 investors.

In total, Chip reports having raised £43.5 million, backed by 27.5k shareholders.

Chip is a “super App” that aims to help people save and earn money. The company states that it has doubled its monthly active users in 2023 to 219,000, with deposits topping £3 billion.

Chip expects to use additional money to create an offer a Cash ISA as well as update and augment investment offerings.

Currently, Chip promotes a 4.84% AER (variable rate) on up to £250,000 in instant access savings. Chip also offers funds and other ISA alternatives. The company aims to simplify the investing process for the masses.


Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

Sponsored Links by DQ Promote



Send this to a friend