Automatic saving app (and Plum competitor) Chip has raised a series A. From their investor email:
“we have secured Series A funding to take Chip to the next level. This will rapidly accelerate our growth, enable us to invest substantially in our technology and launch ChipX. This round values the company at £14,400,000, representing a 236% increase in valuation since our last round. In the last 12 months, we have grown to 75,000 accounts, built Chip 2.0, achieved over 300% growth in all key performance metrics and ended the quarter with 45,000 active savers, processed £58m of saves and £36m of deposits.”
But their recent deployment of their new app has been a right old mess, sadly, and I imagine it has dinged the confidence of users (autosaves not working, getting account balances horribly wrong etc).