MoneeMint has secured strategic funding from private investment firm Ground One Ventures to pursue its plans to create an ethical digital bank in the UK and Europe.
The business aims to provide a fresh banking experience for its customers with a state-of-the-art digital banking platform.
The investment will be used to fast-track the technology delivery roadmap, while accelerating the go-to-market execution.
MoneeMint has formed a new board of directors and plans to launch the service in Q1 2019.
It has also appointed two senior industry professionals – Raheel Iqbal and Alpesh Doshi – to its board to help it achieve its goals.
Hassan Waqar, co-founder of MoneeMint (pictured above), said: “We are going back to [the] drawing board, looking at each and every aspect of customer current banking journey, the hardship they face and changing it fundamentally from [the ground up] – giving our customers the freshest banking experience.”
Gerry McGowan, chief executive at Ground One Ventures, added: “We are very excited to partner with MoneeMint and to drive this initiative through our technology investment and executive advisory support.
“At Ground One, we are partnering up with start-ups across Europe, GCC and ASEAN regions and helping passionate entrepreneurs build disruptive businesses.”
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
300 companies sign up to Women in Finance Charter
A total of 300 companies have now signed up to HM Treasury’s Women in Finance Charter....
Hanley Economic offers self-build product in Scotland
Hanley Economic Building Society has extended its self-build and residential mortgage offerings into Scotland with immediate effect...
Why it’s important to encourage female entrepreneurs
On Women’s Entrepreneurship Day, we honour women in business, their fearless ambition, their achievements and successes...
TSB names new CEO
The board of TSB Bank PLC – with the support of Sabadell – has announced that Debbie Crosbie (pictured above) will become its new CEO in 2019, subject to regulatory approval...
Tandem opens community beta testing for autosavings
Tandem has invited its existing app users to join its autosavings beta testing community to help test its new proposition...
Secure Trust Bank enters Right to Buy market
Secure Trust Bank Mortgages (STB) has launched into the Right to Buy market with a range of mortgages for tenants looking to purchase their existing home...
Starling announces partnership with the Post Office
Starling Bank has announced that it has partnered with the Post Office as it looks to offer every day banking services to its customers...
Close Brothers appoints new NED
Close Brothers Group PLC has named Peter Duffy as an independent non-executive director...
What’s missing from the specialist banking market?
Two months ago, Specialist Banking published a feature looking at whether there was room for more banks in the sector...
TransferWise secures £65m syndicated debt facility
TransferWise has completed a £65m syndicated debt facility with NatWest, JP Morgan and LHV Bank...
EedenBull AS names non-executive chairman
New fintech company EedenBull AS has appointed Jeremy Nicholds as its non-executive chairman of the board...