Snoop is a smart money mobile app that helps consumers save money on bills and subscriptions. The fintech company recently raised £10 million from over 1,700 investors on the Seedrs crowdfunding platform, taking the total money raised by the business to £19 million.
In the latest funding round, former financier, Pierre Lagrange, joined existing investors Lord Brown’s Havisham Group, Travelex Founder Sir Lloyd Dorfman, and Salesforce Ventures.
The funding will enable them to continue building their product, and develop new features that will disrupt money management and budgeting.
John Natalizia, CEO at Snoop, said: “We’re all about making it as easy as possible to put a big chunk of cashback in people’s pockets and want to make Snoop the most valuable app on everyone’s phone. We’ve made great strides since we launched in April and we’re thrilled with the support from customers in the crowdfund. We will now accelerate the development of the platform, broaden our smart money-saving services, and continue to scale the business.”
Help users to find money-saving opportunities
Founded by Dame Jayne-Anne Gadhia, Snoop leverages the power of open banking and advanced analytics. The app provides data-driven, personalised insights (‘Snoops’) to help consumers find their biggest money saving opportunities.
Based out of Norwich, Snoop is designed to simplify users’ financial experience, by connecting their bank accounts and credit/debit cards together within an app.
Commenting on Snoop’s new bill-busting service Natalizia added: “Our customers can already see all their bank accounts in one place and they’ll soon be able to manage all their bills too. By using our new Payment Hub customers will be able to deepen Snoop’s intelligence, take the personalisation of the app to another level, and help find better deals at exactly the right time so they never spend more than they must. No shiny, expensive metal cards, just a 100% focus on saving people time and money through hyper-personalised money management.”
125K downloads, over 1M money-saving insights, and more
Within a short period, Snoop successfully delivered over one million money-saving and money-management insights to customers and can save the average household around £1,500 each year.
So far, the app has been downloaded over 125,000 times as consumers seek to make more of their money in the face of tough and uncertain economic conditions.
In September 2020 Snoop was named one of Europe’s top 50 financial technology companies in the Fintech50, ranked 5th in BusinessCloud’s 100 Fintech Disrupters list, and topped their East of England Tech 50.