Kroo (bank)
| 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]
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] 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]
Services
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]
See also
References
- ^ "Kroo Bank (2023) total assets (2023)" (PDF). Kroo Bank (2023). Retrieved 24 July 2025.
- ^ "Kroo Bank (2023) total assets (2023)" (PDF). Kroo Bank (2023). Retrieved 24 July 2025.
- ^ "KROO BANK LTD overview - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 2025-09-09.
- ^ "Kroo Bank | B-Social - The social financial company". www.kroo.com. Retrieved 2025-09-09.
- ^ "Nazim Valimahomed". FF News | Fintech Finance. Retrieved 2025-08-01.
- ^ Salter, Philip. "Foreign-Born Founders Behind 39% Of The UK's Fastest-Growing Companies". Forbes. Retrieved 2025-08-01.
- ^ Jones, Jess (Dec 4, 2023). "One of the UK's fastest growing fintechs says it will outpace Starling soon". CITY AM.
- ^ Thornhill, John (Aug 22, 2023). "Is the UK losing some of its pull for foreign founders?". Sifted. Retrieved 2025-08-28.
- ^ Ives, Eamonn (2023-08-22). "If the UK wants to remain a startup superpower, we can't afford to turn our backs on immigrants". CapX. Retrieved 2025-09-09.
- ^ Hinchliffe, Ruby (February 27, 2020). "UK fintech B-Social raises £7.8m ahead of 'Kroo' rebrand". Fintech Futures. Retrieved August 1, 2025.
- ^ "Kroo: the new bank delivering sustainability with interest". www.marqeta.com. Retrieved 2025-08-28.
- ^ https://www.fintechfutures.com/bankingtech/uk-challenger-kroo-lands-licence-to-build-social-bank
- ^ Shibli, Aliya (Jan 31, 2025). "Kroo Bank soldiers on in UK's tougher market". www.thebanker.com. Retrieved 2025-08-01.
- ^ Salter, Philip (2023-11-10). "Nature's Course". The Entrepreneurs Network. Retrieved 2025-09-08.
- ^ "Kroo exceeds £1M crowdfunding target with investments made on average every minute". FF News | Fintech Finance. 2023-11-15. Retrieved 2025-08-28.
- ^ Kular, Dalvinder (2024-11-14). "Kroo Bank reaches £1bn in customer deposits". FStech. Retrieved 2025-08-01.
- ^ Reynolds, John (2024-11-21). "UK challenger bank Kroo considers offering investment products". Tech.eu. Retrieved 2025-08-01.
- ^ Hosking, Patrick (2023-12-05). "Kroo banks 150,000 new customers in 12 months". www.thetimes.com. Retrieved 2025-09-09.
- ^ Hooson, Mark (2025-07-10). "Kroo Bank Review 2025". Forbes Advisor UK. Retrieved 2025-09-09.