Further funding for fintech company
A financial technology (fintech) start-up has raised its third round of equity funding from a syndicate of investors including Finance Yorkshire.
Digital current account provider Ffrees will use a £300,000 cash injection from the regional funding body to introduce new products including a mobile app, and to redevelop its platform to allow direct debit transactions.
Established in 2012, Sheffield-based Ffrees currently has 35,000 UK customers and is adding about 1,000 new ones each week.
With the latest round of funding, Finance Yorkshire has now invested a total of £1.55m in Ffrees since 2012.
Finance Yorkshire portfolio manager Ian Brown said: "The business has a hugely experienced management team in place, with big ambitions for the future, and we are confident of its ongoing success."