Loot
We advised Loot on Royal Bank of Scotland (RBS)’s investment in the company. RBS join strategic investor Portage (Wealthsimple), as well as SpeedInvest (investors in Holvi, Curve) and Global Founders Capital (investors in iWoca, Kreditech, Facebook).
Who are they
Loot launched in 2014 to help students and young people better manage their finances. Verified customers are provided with a pre-paid debit card and offered personal insights into spending patterns. This process allows users to set daily or weekly budgets and even put aside money for larger #LootGoals.
What was our involvement
RBS took a 25% stake in Loot via Bó, its digital-only bank. Commenting on the transaction, Paddy MccGwire, Managing Partner at Silverpeak, said: “Having advised Loot on this strategic investment by Royal Bank of Scotland, we look forward to working with Ollie and the team on their next phase of growth.”
Loot is an exciting brand and one that we’re proud to be associated with. Through its innovative use of technology and intention to change the status quo, it’s quickly built a following of loyal customers, with potential for rapid future growth.