VitraCash raises £330k in pre-seed funding via Crowdcube to launch its smart debit card.
The fintech startup secured backing from nearly one thousand investors and plans to introduce its smart card this summer.
VitraCash is a British financial technology enterprise developing an intelligent debit card that automatically selects the optimal payment method for each transaction. The firm operates from London and serves consumers seeking to avoid foreign exchange and ATM fees.
VitraCash has secured £330k in a pre-seed funding round backed by nearly one thousand investors through Crowdcube. The company achieved its fundraising target within hours of launching the campaign before securing nearly seven times its initial goal.
The capital will support the upcoming summer launch of the VitraCard, starting with an invite-only phase for Crowdcube backers before a public rollout later in the year. VitraCash is also preparing for a larger seed round early next year.
The firm aims to simplify multi-card management by letting users link various payment methods to a single smart card that automatically optimises for exchange rates and rewards.
From the founder
"After spending a lot of time traveling the world, our team noticed the absurd fees that were charged for foreign exchange and ATM withdrawal."
Koray Koska
CEO at VitraCash