Kroo (bank)
British online bank
From Wikipedia, the free encyclopedia
Kroo Bank Ltd is a British neobank based in London.[3] It provides its retail banking services via a mobile app.
| |
| Formerly | B-Social |
|---|---|
| Type | Private company |
| Industry | Financial services |
| Founded | 2022 |
| Founders | Nazim Valimahomed |
| Headquarters | , |
Area served | United Kingdom |
| Products | Banking services |
| Services | Retail banking |
| Total assets | 873.918M[1] |
Number of employees | 223[2] |
| Website | kroo |
History
Kroo Bank was founded in 2022 by Nazim Valimahomed as B-Social, offering an app based debit Mastercard issued by Wirecard Card Solutions Ltd.[4][5][6] Valimahomed founded the bank after previously selling an ad company to French advertising conglomerate Publicis and becoming disenchanted with the UK's "terrible" banking system.[7][8] Prior to founding the bank, Valimahomed fled Uganda, then under the control of military dictator Idi Amin, as child refugee, before eventually making his way to the UK.[9]
B-Social Ltd rebranded as Kroo in 2020[10] and was granted a full banking licence by the Bank of England in 2022, one of only four banks to be granted a new licence since 2013.[11][12]
In 2021, chief risk officer Andrea De Gottardo became CEO of Kroo.[13] In November 2023, Kroo started a crowdfunding, using platform Crowdcube, that raised £1 million in its first few hours and £9.5 million by the end of the campaign.[14][15] In November 2024, Kroo reached £1 billion in deposits.[16][17]
In May 2026, Kroo entered into a partnership with specialist bridging lender Glenhawk, acquiring a portfolio of Glenhawk's existing loans and agreeing to fund a portion of its future UK bridge loan originations through a forward flow arrangement.[18][19]
Services
Kroo is a digital bank with a mobile app, and no branches. Kroo offers interest on all accounts.[20] As of July 2025, Kroo Bank offers current accounts, savings accounts, a cash ISA and personal loans.[21]