Internship

Founder's Associate

Legal

Bits

Bits

11-50 employees

Subscription-based credit-building service improving scores

Compensation Overview

£13 - £15/hr

London, UK

In Person

Two days per week on-site at Camden offices.

Category
Legal & Compliance (2)
,
Requirements
  • Right to work in the United Kingdom.
  • Keen attention to detail.
  • Creative and innovative thinking.
  • Interest in finance and technology law.
  • Ability to work from our Camden offices at least two days per week.
  • This is a part-time position requiring 10-20 hours per week.
Responsibilities
  • Conduct extensive research on UK and US financial legislation.
  • Compile research findings into actionable insights.
  • Apply legal understanding to product requirements, ensuring compliance and encouraging innovation.
  • Collaborate with the team to provide legal guidance on business issues.

Bits helps people build credit scores through a subscription-based fintech service. The platform connects with major credit bureaus (Experian, Equifax, TransUnion) to report positive credit activity, while avoiding interest, late fees, and hard credit checks. Users pay a monthly fee to access educational resources like a score simulator and a library of videos, which teach how credit works and how to improve scores. Bits also offers a Bits Credit Card and a Bits Store Card, though these products are not regulated like typical financial products and do not come with standard consumer protections. Revenue comes from subscription fees and potential affiliate partnerships. The business differentiates itself by providing a transparent, low-risk way to build credit with a focus on education rather than traditional lending terms. The goal is to make credit-building simple and accessible, helping users raise their credit scores without high costs or hidden fees.

Company Size

11-50

Company Stage

Seed

Total Funding

$260K

Headquarters

London, United Kingdom

Founded

2018

Simplify Jobs

Simplify's Take

What believers are saying

  • 300,000 users show strong demand among students, immigrants, young consumers.
  • Mobile-first onboarding simplifies entry for traditional banking barriers.
  • Timely payments boost scores within 2-3 months per user reviews.

What critics are saying

  • FCA shuts unregulated Bits Store Card in 3-6 months over fraud risks.
  • Credable, TomoCredit free cards erode 300k base in 12-18 months.
  • CRAs delist Bits reporting Q1 2026 as artificial activity.

What makes Bits unique

  • Bits reports subscription payments as credit repayments to Experian, Equifax, TransUnion.
  • No interest, no late fees, no hard checks enable access for poor-credit users.
  • App provides score simulator, videos for credit education.

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Your Connections

People at Bits who can refer or advise you

Benefits

Paid Vacation

Health Insurance

401(k) Retirement Plan

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

-2%

2 year growth

14%
Exame
Jul 11th, 2024
Bits raises R$ 1.8M to simplify legalese

Title: "In the Fight Against Legalese, Startup Bits Raises R$1.8 Million in Round with Quintal and Levain Ventures" Content: Legaltech Bits raised R$1.8 million in a funding round led by Levain Ventures and Quintal Ventures, with additional support from Anjos do Brasil, Harvard Angels, and Insper Angels. The funds will enhance their AI-driven 'legal design' technology, simplifying legal language in documents. The investment includes financial capital and media exposure, with R$1.1 million from Levain and Quintal Ventures.