Sir Alex Ferguson-backed startup Pockit has raised £2.3 million

Pockit Virraj Jatania
Pockit founder and CEO Virraj Jatania. Pockit

LONDON — Fintech startup Pockit has raised close to £3 million ($US3.8 million) since the end of last year, according to documents filed with Companies House.

Pockit raised a combined £2.36 million issuing new ordinary shares in April, filings show. The startup also raised just over £600,000 issuing new Seires A shares in December. It’s not clear from the filings who the money was raised from.

CEO Virraj Jatania confirmed that the company had raised money, saying it is a “pre-cursor to a much larger series B later this year.”

Pockit offers banking services to the “unbanked.” The startup, founded in 2009, lets low-income and itinerant people get hold of a prepaid card that they can have their salary or government benefits paid to. They can also manage their money and do things like direct debits. Jatania told Business Insider last September that the startup had 90,000 customers in the UK.

Prior to its latest funding, Pockit has raised over £2 million according to Crunchbase. Legendary former Manchester United manager Sir Alex Ferguson was an early investor in the startup. Jatania told BI last year: “Given his background and the care he has around working class communities he just loved what we were starting to put together.”

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