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UK neobank Muniy looks for crowdfunding boost

UK neobank Muniy looks for crowdfunding boost

Muniy, a UK-based digital banking and mobile payments startup, is closing in on a £200,000 crowdfunding campaign.

Muniy is targeting the millions of underbanked with its app and contactless card combo, already live in the UK, that offers business and personal accounts in multiple currencies.

The service, with freemium and paid accounts, offers instant P2P money transfers, real-time transaction notifications, accounting services, and a passive savings feature.

The startup is also pushing QR payments, which it says lets customers connect anonymously with merchants, whilst allowing sellers to benefit from lower transaction processing costs.

The neobank recently signed on with KYC regtech firm HooYu to smooth onboarding, with ID document validation, facial biometric checks, and PEPs and sanctions screening.

Muniy has so raised over £140,000 on Crowdcube, where it is aiming to secure £200,000 at a pre-money valuation of £2.7 million by the end of June.

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