Pockit taps shareholders for £13.4m after losses quadruple
What's the deal? London fintech Pockit has raised £13.4m from shareholders to shore up its finances after its pre-tax losses more than quadrupled. The firm, which offers pre-paid cards without credit checks, completed the raise in May 2026 from venture capital investor Concentric and Shore Capital-owned Puma Growth PartnersDealroom has a profile for this one. Try Dealroom →.
Pockit posted a £10.3m pre-tax loss for 2024, up from roughly £2.5m the year before. Total turnover rose about 50% to £7.4m.
The raise follows a £5m loan the fintech secured earlier this year. It also comes on the heels of Pockit's acquisition of Monese, the mobile banking app that was put up for sale after its technology arm, XYBDealroom has a profile for this one. Try Dealroom →, was spun out as a separate business.
Why now? The Monese deal reshaped Pockit's profile significantly — adding 99 staff to a 46-person team and bringing an established customer base, multi-currency wallets, and money transfer services under one roof. Pockit said the combined entity's enlarged balance sheet and electronic money licence permissions would let it earn revenue from customer deposits, "supporting the development of a more diversified and sustainable revenue model."
But that integration has been costly. Monese's own 2024 accounts show a £15.9m pre-tax loss, driven largely by restructuring costs after the takeover. Its revenue fell to £12.2m from £14.9m, though part of that decline stems from the XYB spin-off.
What could go wrong? Both companies filed their accounts well past statutory deadlines — Pockit's by six months. Late filings can signal governance strain, and the combined losses across both entities are substantial relative to revenue.
Integrating two fintechs — each with its own tech stack, customer base, and regulatory obligations — is complex. If Pockit can't turn the Monese acquisition into meaningful revenue growth, it may need to tap investors again soon.
The signal: Pockit is classified as a "breakout" stage company on Dealroom, yet its investor base for this round — corporate backer Concentric and investment fund Puma Growth Partners — skews towards existing shareholders doubling down rather than new institutional money arriving at the door. That pattern, combined with quadrupling losses and a preceding debt facility, suggests the market for fresh outside capital in underbanked-focused fintech remains tough, even when the addressable population runs into the tens of millions.
Read more: cityam.com
