RBS digital bank makes £2m investment in digital current account Loot

Mark Bailie

The fresh cash injection takes Bó’s total shareholding to around 25 per cent.

Loot launched in 2014 to help students and young people better manage their finances and now has more than 175k sign-ups.

All verified customers are provided with a pre-paid debit card and offered personal insights into spending patterns, allowing users to set daily or weekly budgets or even put aside money for larger, so-called #LootGoals.

Bó is currently in private beta testing, with a view to launch in 2019. 

Its CEO,Mark Bailie, said: “Loot is a really exciting brand and one that we’re proud to be associated with. Through its innovative use of technology and intention to change the status quo, it’s quickly built a following of loyal customers, with potential for rapid future growth.”