JaJa Finance preps launch of mobile-controlled credit card

JaJa Finance preps launch of mobile-controlled credit card

London-based startup JaJa Finance is preparing to launch its first mobile-controlled credit cards on the back of £7 million in funding.

Key features of JaJa include fast onboarding, the ability to tag and search transactions and the option to share credit limits with trusted friends and family. Repayments and account settings can all be managed within the app, which provides links to bank accounts for paying off credit.

CMO and co-founder of Jaja Finance, Kyrre Riksen, says: “Whilst the banking industry has been challenged by innovative fintech entrants in the prepaid or debit card space, the credit card experience has yet to change in over a decade. Yet in a world where you can use Uber instead of calling a taxi or Deliveroo to order your next meal, why can’t you manage your credit card in the same way? When you’re so used to sharing things like your Netflix or Spotify accounts with family and friends, why can’t you do the same with your credit? After all, it’s your credit and you should be in complete control.”

Riksen and fellow co-founders Per Elvebakk and Jostein Svendsen and Kyrre Riksen were recently joined by Neil Radley, ex-CEO of Barclaycard Western Europe, as executive chairman. Investors include Pollen Street Capital, Silverstripe International Holdings and Blystad Group.

Jaja Finance is also soon to launch a funding round on equity crowdfunding platform, Seedrs. Funds from the round will be used to support the roll out of the first 2000 investor credit cards and to develop a 24/7 customer service feature, says Riksen.

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