Kroo Bank

Kroo Bank

Mobile-only UK digital bank with bill-splitting

Overview

Kroo Bank is a UK digital-only bank offering a mobile-first current account via iOS and Android apps. It earns revenue from net interest margin and transaction fees, with FSCS-protected deposits up to £85,000 following a Bank of England license granted in June 2022. The app provides real-time spending alerts, expense tracking, and group bill-splitting, paired with an ethical stance such as a tree-planting program for new customers. It stands out by delivering a social, mobile-focused banking experience within a fully licensed UK bank, aiming to be a trusted, customer-centric alternative to traditional banks while growing deposits and expanding its product range.

About Kroo Bank

Simplify's Rating
Why Kroo Bank is rated
C
Rated D+ on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Consumer Software

Fintech

Financial Services

Company Size

201-500

Company Stage

Late Stage VC

Total Funding

$75.2M

Headquarters

London, United Kingdom

Founded

2016

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Simplify's Take

What believers are saying

  • Kroo surpassed £1 billion in customer deposits by November 2024.
  • Kroo launched a Flexible Cash ISA in 2025, expanding beyond current accounts.
  • July 2026 forward-flow funding with 9Y Capital supports bridge-lending revenue growth.

What critics are saying

  • FCA complaints data showed 820 current-account complaints in second-half 2025.
  • Financial Ombudsman upheld Kroo scam-dispute complaints in March 2026, hurting trust.
  • Loan forward-flow deals with Glenhawk and 9Y Capital expose Kroo to credit-cycle concentration.

What makes Kroo Bank unique

  • Kroo couples full UK banking license with mobile-first current accounts and bill splitting.
  • Its Flexible Cash ISA offers 4.30% AER with instant withdrawals and top-ups.
  • Kroo uses transaction enrichment and Google Maps location data to clarify spending.

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Funding

Total Funding

$75.2M

Above

Industry Average

Funded Over

7 Rounds

Late VC funding comparison data is currently unavailable. We're working to provide this information soon!
Late VC Funding Comparison
Coming Soon

Benefits

Health Insurance

Paid Vacation

Paid Holidays

Remote Work Options

Flexible Work Hours

Hybrid Work Options

Parental Leave

Home Office Stipend

Phone/Internet Stipend

Mental Health Support

Commuter Benefits

Growth & Insights and Company News

Headcount

6 month growth

-2%

1 year growth

-2%

2 year growth

-4%
Companies House
Aug 7th, 2026
KROO BANK LTD filing history - Find and update company information - GOV.UK

KROO BANK LTD - Free company information from Companies House including registered office address, filing history, accounts, annual return, officers, charges, business activity

Bridging Loan Directory
Jul 30th, 2026
9Y Capital secures forward flow funding from Kroo Bank

Fully licensed digital bank Kroo has entered into a forward-flow funding arrangement with specialist lender 9Y Capital (“9Y”) to support bridging and

Tracxn
Mar 15th, 2026
Kroo - Funding & Investors.

Kroo - Funding & Investors. Last updated: March 15, 2026 Kroo's funding rounds. Kroo has raised a total of $88.9M over 9 funding rounds: 5 Seed and 4 Early-Stage round s. Kroo's largest funding round so far was a Series B round for $***** in Jun 2022. Here is the list of all funding rounds of Kroo: | Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors | | Nov 29, 2023 | 8971287 | Series B | 4677710 | 9590729 | 1148715 | 1811201 | | Sep 27, 2023 | 6728043 | Series B | 6223728 | 7739867 | 6159606 | 1573440 | | Jun 01, 2022 | 9685335 | Series B | 8782457 | 1166673 | 2309536 | 5894912 | | Jul 30, 2021 | 6841268 | Series A | 2383102 | 8146534 | 8573763 | 9873235 | | Feb 26, 2020 | 7230960 | Seed | 4579204 | 8498034 | Rudy Karsan | 2414786 | | Jul 15, 2019 | 2759575 | 512389 | 9733661 | 7760485 | 5759519 | 6835390 | | Dec 12, 2018 | 6076823 | 649427 | 3454898 | 1851900 | 1567150 | 5833852 | | Jun 01, 2018 | 6598404 | 307247 | 4824145 | 5629707 | 4225411 | 7529557 | | Oct 20, 2017 | 7258565 | 172480 | 9220818 | 6271300 | 7007642 | 3125172 |

FF News
Apr 3rd, 2025
Kroo Fights Back Against “Lazy Money” With Launch Of Its Cash Isa

Kroo Bank today announces the launch of its Flexible Cash ISA, reshaping the way millions of UK ISA users can save. Historically, ISAs have been hard to understand, often limiting basic financial flexibility like withdrawals or transfers.However, Kroo’s Flexible Cash ISA transforms ISAs from a powerful but restrictive method to a flexible, stress-free way to save – which customers can use like a day-to-day saver, all while paying a great tax-free return.As £1 trillion of the nation’s savings sit in accounts earning less than 2% interest, Kroo is challenging the banking’s interest rate inertia that has kept too many people stuck in a bad banking relationship for too long. It’s committed to rewarding its customers for banking with them, and has to date passed on over £68 million in interest to them, most of which was paid directly on the current account. This has helped build trust with nearly 200,000 customers.Many providers currently impose rigid conditions on their ISAs, like limiting withdrawals, or cutting rates if customers take out a certain amount of their money. This puts an added burden on customers who, at a time of rising costs, find themselves having to choose between locking their money away to earn interest, or keeping it “lazy” in a current account while maintaining access to it.Krooʼs Flexible Cash ISA allows users to earn 4.30% AER variable whilst topping up or withdrawing on demand, without penalties, and without affecting their £20,000 allowance. There are no disappearing bonus rates, no annual delays in interest payments, and the ISA can be opened with just £1.Nazim Valimahomed, Kroo’s co-founder, said: “When we founded Kroo, we knew we wanted to reward our customers for choosing to bank with us

FF News
Apr 3rd, 2025
Kroo Fights Back Against "Lazy Money" With Launch Of Its Cash Isa

Kroo Bank today announces the launch of its Flexible Cash ISA, reshaping the way millions of UK ISA users can save. Historically, ISAs have been hard to understand, often limiting basic financial flexibility like withdrawals or transfers.However, Kroo’s Flexible Cash ISA transforms ISAs from a powerful but restrictive method to a flexible, stress-free way to save – which customers can use like a day-to-day saver, all while paying a great tax-free return.As £1 trillion of the nation’s savings sit in accounts earning less than 2% interest, Kroo is challenging the banking’s interest rate inertia that has kept too many people stuck in a bad banking relationship for too long. It’s committed to rewarding its customers for banking with them, and has to date passed on over £68 million in interest to them, most of which was paid directly on the current account. This has helped build trust with nearly 200,000 customers.Many providers currently impose rigid conditions on their ISAs, like limiting withdrawals, or cutting rates if customers take out a certain amount of their money. This puts an added burden on customers who, at a time of rising costs, find themselves having to choose between locking their money away to earn interest, or keeping it “lazy” in a current account while maintaining access to it.Krooʼs Flexible Cash ISA allows users to earn 4.30% AER variable whilst topping up or withdrawing on demand, without penalties, and without affecting their £20,000 allowance. There are no disappearing bonus rates, no annual delays in interest payments, and the ISA can be opened with just £1.Nazim Valimahomed, Kroo’s co-founder, said: “When we founded Kroo, we knew we wanted to reward our customers for choosing to bank with us

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