Snoop has closed its latest funding round, raising £3.2 million ahead of a planned Series A later this year.

Travelex founder and serial entrepreneur Lloyd Dorfman led this round, with existing investors Havisham Group and Salesforce Ventures also participating.

After a successful beta testing phase with over 5,000 customers, Snoop launched to the general public on 17 April and doubled its customer base in less than a week.

The startup is already regulated by the Financial Conduct Authority and connects to a customer’s current account and credit cards through Open Banking. It plans to use new funding to make key hires, grow its engineering teams, and scale quickly.

Jayne-Anne Gadhia, executive chair of Snoop said: “We only launched to the general public a little over a week ago and the take-up has significantly exceeded our expectations - this provides me with great confidence as we move towards Series A later this year.”

Dofrman added: “The market potential is huge and having a vastly experienced team with the right proposition, energy and ability to unlock the opportunity is an exciting prospect.

"In the years to come I genuinely believe that the best experience in banking will no longer be with a bank – and the Snoop team are focused on making that a reality.”

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