B-Social Secures £3.2m for ‘social finance’ app - MobileAppDaily
Mobile App

Fintech Start-up B-Social Raises £3.2 Million Investment

The social finance app has plans for a broader UK launch in February 2019

https://dk2dyle8k4h9a.cloudfront.net/Fintech Start-up B-Social Raises £3.2 Million Investment

B-Social, a London-based banking app startup that has created a ‘social finance’ app and offers a beta debit Mastercard, has successfully secured £3.2 million through its latest seed funding round.

Founded in 2016, B-Social is currently applying to Prudential Regulation Authority(PRA) and Financial Conduct and Financial Conduct Authority(FCA) to secure a full banking license to create a bank with ‘social ethos.’

Nazim Valimahomed, founder and CEO of B-Social, said, 

Valimahomed also noted that in case of multiple transactions, getting paid back individually becomes a complex task, often resulting in chaos. With the help of B-Social, users can easily track their everyday expenses and form social groups to split bills and make transactions.

Mobile app for B-Social can be launched anytime early in 2019.

In a talk with TechCrunch, he also confessed that B-Social wants to change the relationship people have with money by helping people overcome anxiety and awkwardness while engaging them with their social finances.

Also, UK’s fintech scenario is becoming more competitive nowadays as UK-based credit report provider TotallyMoney raised £29m, a few days back, from Elliott Advisors and Scottish Equity Partners to develop its technology platform. Firms like Vizolution, MoneeMint, and Cleo too secured investments to fund their business operations.

Vikram Khajuria
Written By
Vikram Khajuria

Jack of all trades. Covering the journalism field, Vikram writes at MobileAppDaily and keeps surfing the trends to understand tech and inventions better. Don’t forget his driving skills, he is a professional car rallyist. Life has just got better. Breathe it!!

Top Companies

InMobi
Singapore
Dot Com Infoway
New York, USA
M&C Saatchi Mobile
New York City, USA
Techmagnate
New Delhi, India
Fetch
London, UK
View full report

Latest Articles

Join our global community 135K Followers
Mobile App

Iran Cuts-Off Telegram Access For Its Citizens

Vikram Khajuria 4 min read  

In a recent stint of curbing social media channels, Iran’s supreme court has directed the nation’s telecommunications providers to pull the curtains on Telegram. Earlier this month, government officials were directed to shun the use of Telegram app.The user base of Telegram covers al

Mobile App

Uber

Joshua Anderson 4 min read  

Ola has recently turned to the pedal-power for its initiative to offer bike-riding services to the users in its attempt to compete with the ride-sharing giant Uber. Before Ola, China’s Didi Chuxing and Grab in Southeast Asia have initially invested in bike-sharing companies. The initiative was

Mobile App

App Growth Awards 2018: List Of All The Finalists

Tanya Singh 4 min read  

The list of all the finalists for the App Growth Awards 2018 has been officially announced, and we are here to tell you everything you need to know about them. These awards are being featured by the App Promotion Summit, a leading app and mobile conference in Berlin that made its debut in the year 2

Mobile App

Tinder’s Location-Tracking Feature Promises to Spice Things Up

Vikram Khajuria 4 min read  

By infusing new features and strategies, Tinder is rightly catching up with other apps to jazz up its users. In one of the recent developments, Tinder has brought some amusing features to the table. A new feature called “Places” will enable other users to see all the locations you have v