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Punk Money
Social lending platform
- 1-20 employees
- Fintech
- Marketplace
- Lending
- Community
- London, UK
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Company mission
Punk Money's mission is to decentralise the banking model and put people at the heart of the financial system. They want to put the power back in people’s hands revolutionising wealth distribution to give instant access to cash to millions.
Our take
The short term credit market is worth an estimated $5 trillion. However, accessing a short term loan through typical online providers is notoriously painful, with massive interest rates and harsh penalties scaring many customers away.
Punk Money have created a community finance platform where investors can give their money to those who need it. Punk Money say they are able to offer the cheapest short term loans to borrowers, boasting up to 95% cheaper rates than other payday lenders.
Punk Money is new to the market, so its promises of industry-beating rates for borrowers and investors have only put to the test in Alpha testing. In looking to 'break the mould', Punk Money is banking on people's desire to create a community of conscious investors in which all parties can help each other.
The company's success will depend on the willingness of investors to sign up to such a scheme. And if their recent funding is any indicator of confidence, Punk Money has real potential to reshape the short-term loan market.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- A beautiful chunk of fresh grilled Equity
- 29 days holiday
- Flexi-remote work style: we’re based in London and want to spend some days together for strategy and discussions etc, but we’re all big kids here, managing our own time and working flexibly
- Sweet, sweet Punk merch
Company values
- Make it Happen: Punk’s always been a DIY culture and we’re all about getting things done. We’re after people who share this ethos, who roll up their sleeves and get stuck in and make amazing things happen
- Be a Champion, not a Challenger: We’re a champion of the people. We stand for the little guy, the overlooked, the ripped-off and abused. We’re here to make a difference to people's lives, not to challenge other companies
- Be Excellent to Each Other: This is us to the core. It means, do what's right for all parties involved, even if it’s hard to achieve
- Stand for Something: We’re the rebels with a cause. We’ve been ripped off by banks long enough. Now is the time to fight back, to unite, to create new services which are fairer, cheaper and easier to use
- Community First: This is at the heart of everything we do. We unite people and solve their problems as a collective allowing them to better understand their finances and get out of debt and invest their savings in other members so that everyone prospers
Funding (1 round)
Dec 2020
$0.7m
SEED
Total funding: $0.7m
Leadership
Ewan Dickie
(CEO)Previously worked in several contract roles as a Project Director including for TMW Unlimited and has considerable experience as a Digital Producer.
Office
