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'Smartbank' Sync. raises £5.5 million seed round

'Smartbank' Sync. raises £5.5 million seed round

Sync., a multicurrency bank account aggregation and personal financial management service founded by Revolut's former head of product design and strategy, has closed a £5.5 million seed round as it prepares to launch in Europe.

Billing itself as the 'World's First Smartbank', sync. offers an all-in-one hub that allows users to open a sync. account in minutes, and link all existing financial accounts and cards.

Users are able to exchange currencies between their accounts and transfer money worldwide, and tap into a range of smart budgeting and spending features and in-app marketplace of third party services.

The account comes with a Mastercard card which generates a unique CVC number via the app for secure shopping. ATM withdrawals, contactless, swipe, international or online payment functionalities can also be turned on and off via the app.

The company has been testing the account on early Beta users and has so far signed up 37,000 users to its waitlist. Today, the app was made available for download to new users at Apple's app store and Google Play.

Prior to joining Revolut as one of the founding team, Lee headed up the UX/UI new look and feel of Lloyds Bank after seeing through the separation from Lloyds TSB to Lloyds Bank and TSB as two independent banks.

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