Singapore-based neobank, Arival, has surpassed its £700,000 crowdfunding target on Crowdcube following its announcement in June to become the first licensed digital bank in the US this year.
The three-year-old bank has raised £1,214,136 so far, before it closes the round at midnight on 6 September. Currently Arival has a pre-money valuation of £12,012,061.
Targeted users for the neobank are those rejected by other banks, including E-Residency businesses, expats and refugees, cryptocurrency and blockchain-related businesses, politically exposed persons, and digital influencers. (more…)