Legal Intern, Bits

Salary not provided

The salary offered is £12-£15 per hour

London

More information about location

1+ day a week in office (Camden, London)

Store card for building credit

Open for applications

Store card for building credit

21-100 employees

FintechB2CCredit ScoringMarketplacePersonal financeLending

Open for applications

Salary not provided

The salary offered is £12-£15 per hour

London

More information about location

1+ day a week in office (Camden, London)

21-100 employees

FintechB2CCredit ScoringMarketplacePersonal financeLending

Company mission

To promote financial inclusion by providing a path to credit for those neglected by mainstream lenders.

Job

Company

Role

Who you are

Right to work in the UK
Keen attention to detail
Creative and innovative thinking
Interest in finance and technology law
Ability to work from our Camden offices at least one day per week (flexible and remote working can be discussed)

What the job involves

We are seeking a Legal Intern to join our team and gain hands-on experience working as an in-house legal consultant
In this role, you will collaborate closely with our founder and CEO to drive the business forward and provide legal research and advice on complex product issues
This internship program was launched last year and has already seen successful participation from multiple students
It is a unique opportunity to apply your legal knowledge in a fast-paced and high-growth environment
This is a part-time position, requiring 10-20 hours per week
We are looking to hire up to 3 current students for this role
Conduct extensive research on UK and US financial legislation
Compile research findings into actionable insights
Apply legal understanding to product requirements, ensuring compliance and encouraging innovation
Collaborate with the team to provide legal guidance on business issues

Salary benchmarks

Our take

Oftentimes, the advice to those with low credit is to build it up with the careful use of high-interest credit cards. However, this comes with the obvious downside of being high risk as well as high reward. Bits, instead, helps people with low credit to improve their scores with a subscription store card that lets them access in-store savings while quickly raising their credit score.

Millions of people in the UK have difficulty accessing financial services due to their credit scores, so it is no surprise that a number of other startups like Pockit and Portify have emerged offering alternative products for this underserved group. Bits, however, stands out for its unique approach that doesn’t put people into any debt at all - with the company making no money on interest.

As Bits has grown, it has expanded its product and now reports to Equifax and TransUnion on top of Experian. Boasting 300,000 users and a strong rating on Trustpilot, it is clear the company has already made an impact and it will be interesting to see what it does in the future.

Freddie

Company Specialist at Welcome to the Jungle

Insights

Top investors

Trustpilot (4.7)

Company

Funding (2 rounds)

Sep 2020

$0.2m

SEED

Oct 2018

$0.2m

SEED

Total funding: $0.3m

Company benefits

A competitive market salary
28 days holidays/ year incl. UK/ England public & bank holidays
Private Healthcare plan (if you want one)
Work with the Founder directly. Travel with him occasionally. Participation in the options plan once it goes live

Company HQ

London, UK

Leadership

Faisal Khalid

(Founder & CEO)

A Harvard graduate in Economics, Faisal has over a decade of experience in major payment companies such as American Express. More recently, they founded Paysnapp, an online payment service for low income migrant workers which was acquired by VFD bank.

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