UK neobank Kroo raises £26 million in Series B funding

London-based neobank Kroo has raised £26 million ($33 million) in a Series B funding round, despite the pace of fintech funding slowing down after the highs of 2021. 

Along with the typical neobank features, Kroo believes it differentiates itself from competitors by offering “socially conscious” initiatives such as a customer tree-planting referral scheme and by pledging a portion of its profits to social causes. The bank currently has 23,000 users of its prepaid card. 

Read more: The Block