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Private Banking Startup Kashet Raises £5.4 Million

Kashet startup, whose offices are located in the UK and Switzerland, came out of hiding after raising £5.4 million in investment funds following the results of an entry-level funding round.

Private Banking Startup Kashet Raises £5.4 Million

Source: motionarray.com

This startup is led by experts with experience in the banking sector, technology, and the services industry, including Alex Wilmot-Sitwell from Bank of America and UBS and Andrew Brooks from the Bank of England, and international executives Gary Steele and Jacob Varens.

The company offers consumers living in the UK and European Union countries an application that helps to implement the money management process. This application combines a full set of cards, currency exchange, domestic and international payments, and access to digital currencies in accordance with Swiss law.

Kashet already has an FCA license in the UK, including licenses for electronic money, AISP, and PISP. In the near future, the startup plans to apply for registration in the UK FCA 5MLD and apply to register as a fintech firm with the Swiss regulatory authority Finma.

Jorn Larsen, founder, and CEO of the Copenhagen technology accelerator Trifork Labs, who participated in the funding round, says that Kashet is an exclusively digital solution, within which advanced financial products and outstanding experience in the field of technology were combined into a single whole.

He also stressed that this solution at the international level provides customers with flexibility, speed, and verification of transactions in real-time. The startup, according to him, in the framework of its activities goes beyond the boundaries of the space within which traditional financial institutions operate.

Kashet co-founder and CEO Chris Jones says that the idea of the company’s existence goes beyond the standard patterns of financial thinking inherent in bankers. He also noted that the firm is focused on providing exclusively financial services that consumers will trust. Separately, the CEO of the startup announced his intention to establish partnerships with European private banks that want to gain access to advanced technological solutions.

As we have reported earlier, Blockchain Mortgage Platform Acre Raises £6.5 Million.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.