Snoop secures £15m in Series A funding from Paulson to support international expansion and product growth.
Paulson backed the open banking platform in a round that values the company at £47m.
Snoop operates an open banking platform that provides personalised financial insights to help users manage their money and reduce household expenses.
Open banking platform Snoop has secured £15m in Series A funding from Paulson. The investment values the business at £47m and follows a previous £10m raise in late 2020. The company will direct the capital toward scaling operations, product development, distribution growth and international expansion.
Launched in April 2020, Snoop consolidates users financial accounts to deliver automated spending insights and identify potential savings on household bills. The platform currently connects with over 50 banks and processes millions of daily transactions. This latest injection of capital arrives as open banking gains broader regulatory momentum in international markets.
From the founder
"I’m delighted that Paulson has invested in the Snoop proposition, team and ambition, and that they – like us – view open banking as a major growth opportunity within the financial sector."
Jayne-Anne Gadhia
Executive Chair at Snoop
Investor perspective
"We view open banking as a major global market opportunity and Snoop has positioned itself to capitalise on this technology in a way that will allow the business to thrive and become an essential part of the way that we all manage our finances."
Andrew Hoine
Partner, Paulson
Use of funds
- 01Continue product development
- 02Expand into international markets
- 03Scale operations