Snoop discloses £3.2 million in funding

London-based fintech startup Snoop is announcing the closure of a £3.2 million funding round from Travelex chairman Sir Lloyd Dorfman, Havisham Group and Salesforce Ventures. To date, the startup has raised £9 million, with a larger Series A fundraising planned for later in the year.

Founded in 2019, Snoop is led by Jayne-Anne Gadhia, previously CEO of Salesforce UK and Ireland, and former Virgin Money employees John Natalizia and Jem Walters. The startup leverages machine learning to track consumers’ bills and spending patterns, using the data to provide money-saving tips. Aside from tracking spending, Snoop is looking to remove the hassle for consumers and businesses of switching their provider of personal banking, insurance, energy, mortgage or telecoms services. One of Snoop’s skills features an annual insurance checker, which sends users reminders before their annual insurance payments are due to give them a chance to shop around and save.

“Household finances were under pressure even before the coronavirus and we look forward to helping the Snoop team scale rapidly to assist consumers in making the most of what they’ve got. 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.” – Sir Lloyd Dorfman.