Kroo (bank)

Kroo Bank Ltd
FormerlyB-Social
TypePrivate company
IndustryFinancial services
Founded2022 (2022)
FoundersNazim Valimahomed
Headquarters
London
,
United Kingdom
Area served
United Kingdom
ProductsBanking services
ServicesRetail banking
Total assets873.918M[1]
Number of employees
223[2]
Websitekroo.com

Kroo Bank Ltd is a British neobank based in London.[3] It provides its retail banking services via a mobile app.

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 licence by the Bank of England in 2022, one of only four banks to be granted a new licence 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]

In May 2026, Kroo entered into a partnership with specialist bridging lender Glenhawk, acquiring a portfolio of Glenhawk's existing loans and agreeing to fund a portion of its future UK bridge loan originations through a forward flow arrangement.[18][19]

Services

Kroo is a digital bank with a mobile app, and no branches. Kroo offers interest on all accounts.[20] As of July 2025, Kroo Bank offers current accounts, savings accounts, a cash ISA and personal loans.[21]

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. ↑ "Kroo Bank Ltd overview - Find and update company information - Gov.uk". Companies House. 2016-09-05. Retrieved 2026-08-06.
  4. ↑ "Kroo Bank | B-Social - The social financial company". www.kroo.com. Retrieved 2025-09-09.
  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.
  8. ↑ Thornhill, John (Aug 22, 2023). "Is the UK losing some of its pull for foreign founders?". Sifted. Retrieved 2025-08-28.
  9. ↑ 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.
  10. ↑ Hinchliffe, Ruby (February 27, 2020). "UK fintech B-Social raises £7.8m ahead of 'Kroo' rebrand". Fintech Futures. Retrieved August 1, 2025.
  11. ↑ "Kroo: the new bank delivering sustainability with interest". www.marqeta.com. Retrieved 2025-08-28.
  12. ↑ https://www.fintechfutures.com/bankingtech/uk-challenger-kroo-lands-licence-to-build-social-bank
  13. ↑ Shibli, Aliya (Jan 31, 2025). "Kroo Bank soldiers on in UK's tougher market". www.thebanker.com. Retrieved 2025-08-01.
  14. ↑ Salter, Philip (2023-11-10). "Nature's Course". The Entrepreneurs Network. Retrieved 2025-09-08.
  15. ↑ "Kroo exceeds £1M crowdfunding target with investments made on average every minute". FF News | Fintech Finance. 2023-11-15. Retrieved 2025-08-28.
  16. ↑ Kular, Dalvinder (2024-11-14). "Kroo Bank reaches £1bn in customer deposits". FStech. Retrieved 2025-08-01.
  17. ↑ Reynolds, John (2024-11-21). "UK challenger bank Kroo considers offering investment products". Tech.eu. Retrieved 2025-08-01.
  18. ↑ Prabhudesai, Parth (May 15, 2026). "Kroo Bank partners Glenhawk on property lending". IBS Intelligence. Retrieved 2026-05-20.
  19. ↑ Towner, Lauren (2026-05-12). "Kroo Bank and Glenhawk Partner on Portfolio Acquisition and Forward Flow Arrangement". FF News | Fintech Finance. Retrieved 2026-05-20.
  20. ↑ Hosking, Patrick (2023-12-05). "Kroo banks 150,000 new customers in 12 months". www.thetimes.com. Retrieved 2025-09-09.
  21. ↑ Hooson, Mark (2025-07-10). "Kroo Bank Review 2025". Forbes Advisor UK. Retrieved 2025-09-09.
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