Head of Finance, Bits
More information about location
5 days a week in office (Camden, London)
Store card for building credit
Open for applications
Store card for building credit
21-100 employees
Open for applications
More information about location
5 days a week in office (Camden, London)
21-100 employees
Company mission
To promote financial inclusion by providing a path to credit for those neglected by mainstream lenders.
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Company mission
To promote financial inclusion by providing a path to credit for those neglected by mainstream lenders.
Few candidates hear
back within 2 weeks
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
Benefits
- Free fruit in the office
- 28 days holiday, including bank/national holidays
- Laptop and phone of your choosing
- Regular team meals
- Team socials
Funding (2 rounds)
Aug 2020
$0.2m
SEED
Oct 2018
$0.2m
SEED
Total funding: $0.4m
This company has top investors
Leadership
Faisal Khalid
(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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