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Snoop raises £15 million to fund international expansion

Snoop raises £15 million to fund international expansion

Founded by former Virgin Money chief Jayne-Anne Gadhia, smart money app Snoop has secured £15 million in Series A funding from American investment management firm Paulson & Co. Inc.

Snoop uses Open Banking technology to connect to a customer’s bank accounts and credit cards, snooping through the data to find money saving opportunities on bad deals, poor value renewals and wasteful subscriptions.

The Norwich-based firm claims to have delivered over three million money-saving and money-management insights to customers and aims to save the average household around £1,500 each year.

The latest funding comes off the back of a recent £10 million crowdfund round in December and brings the total raised by the startup to £34 million.

Gadhia says the cash will be used to fund product and distribution development and extension, as well as aid international expansion, with the US identified as a key target.

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