Shared bank branch operator OneBanx has successfully raised £1.27 million on Crowdcube.
Backed by Japanese technology group Glory, OneBanx has created a low-cost pop-up kiosk designed to replace traditional bank branches in towns and communities where they have largely disappeared. The company currently operates four sites across the UK, which include three Co-op stores and a pop-up for TSB. Additionally, OneBanx has a contract with Newcastle Building Society, providing software that enables customers to access their accounts at other banks that have closed their high street locations.
Formerly known as OneBanks, the company surpassed its £.25 million fundraising target on Crowdcube, selling 9.22% of its equity at a pre-money valuation of £12.6 million.