# Chip Financial

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/chip-financial

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.getchip.uk
- Total disclosed funding: $14M
- Latest round: Series A (Sep 14, 2020)
- Investors on record: 2

## About

Chip Financial Limited is a financial technology company focused on simplifying wealth management through innovative savings and investment solutions for individuals, utilizing advanced AI technology to enhance user experience.Founded in 2016, Chip Financial Limited operates from London, UK, providing digital financial services aimed at individual investors. The company has successfully executed five deals, with their most recent significant funding round being a Series A of GBP 10.70 mn led by British Business Bank in November 2020. Co-founded by Alex Latham and Simon Rabin, Chip continues to evolve its operational strategy to better serve its growing clientele.Chip offers a range of financial products designed to facilitate wealth building for individual investors. Their core offerings include a Cash ISA, Savings Accounts, and a Stocks & Shares ISA, all featuring competitive interest rates and tax-efficient savings options. Users benefit from unique features such as monthly prize draws and automated savings through the company's award-winning AI technology, catering to both novice investors and those seeking effective wealth management.In the most recent fiscal year, Chip reported a revenue of GBP 30,448,511.10 with an EBITDA loss of GBP 1,832,585.70. The company’s revenue stems primarily from subscription fees and investment platform fees linked to their financial offerings, including a free basic plan and a premium ChipX membership that incurs a recurring fee of GBP 5.99 every 28 days.Chip Financial Limited is actively pursuing growth through the development of new products and the expansion into additional markets. The company is focusing on designing enhanced financial products tailored for specific demographics, with anticipated launches in the upcoming fiscal year. Further, they plan to expand their market presence beyond the UK into select European regions. The funds raised in the recent Series A round will be strategically allocated to support these initiatives and bolster their product development efforts.

## Funding rounds

- Series A, Sep 14, 2020, $14M — British Business Bank, Crowdcube

## Investors

- British Business Bank (https://capitalatlas.ai/funds/british-business-bank) — Series A
- Crowdcube (https://capitalatlas.ai/funds/crowdcube) — Series A