Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more
Chip has had an incredible year...
We’ve grown deposits 10x to over £3 billion.
We’ve more than doubled our active users to 219k.
We’ve just had our first ever profitable Quarter (context: Q3 EBITDA* +£524k; 2023 YtD EBITDA -£1.95m).
Now we want to share this success with our customers and invite you to own shares. Our past crowdfunds have seen huge demand, register now to ensure early access.
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Equity investing is not without its risks and should only be done as part of a balanced portfolio. Investing in any start-up is high risk and includes the risk of loss of investment. It’s not the same as having your money in a savings account. Your investment could be locked in for a long time, as you don’t get a return until we exit (i.e. we’re bought, or go to market in an IPO). So don’t invest any money that you might need suddenly in an emergency. Most importantly your capital is at risk when you invest, and remember, past performance is not a reliable guide to future performance.
Chip is your wealth app - giving you one easy place for saving and investing. But what really makes it yours is that we’re genuinely building Chip for you, with you.
Crowdfunding has always been in Chip’s DNA. We have a huge community of 27,000+ shareholders and are one of Europe’s most crowdfunded businesses. They help steer our decisions, give invaluable product feedback and are the champions of our brand.
We are now one of the fastest growing wealth businesses in the UK. According to Global Data, we are one of the key players within the UK wealth management market.
We’ve taken our deposits from just under £300 million at the start of the year, to over £3 billion today.
We’ve seen revenue increase 922% over the year to more than £10 million, and based on our Q3 results we’re on track to hit annual recurring revenue of more than £20 million.
We now have over 750,000 registered users, and our active user base has more than doubled from 86,000 to 219,000.
This impressive growth resulted in our first full profitable Quarter with EBITDA* of +£524k.
Our year to date EBITDA has also significantly improved from -£11.25 million in 2022 to -£1.95 million in 2023.
*EBITDA stands for Earnings Before Interest Tax Depreciation & Amortisation, and is a commonly used profitability measure.
We’re raising this round to welcome more users into the community and continue our journey building your wealth app for our generation.
With our revenue where it is, we’re in a sustainable position, but we believe Chip is still very much in a high growth stage with a huge potential to expand further.
Right now, central bank interest rate rises have changed the wealth management landscape, creating an enormous growth opportunity for Chip, its customers, and shareholders. But looking into 2024 and beyond we’re aiming to take on the wealth management industry.
We’ve tasked ourselves with offering a ‘premium and personal service’ for wealth management, which is the next big challenge for the entire business.
We believe this will unlock our next stage of growth and significantly grow customer numbers, assets under administration, and revenues even further.
2024 is going to be a huge year for Chip, but here’s what we’re working on right now.
Highly competitive rates and base rate trackers from a range of established partner banks.
Giving our customers another tax-efficient way to build wealth with highly competitive rates.
Enabling customers to consolidate investments they have elsewhere, and take advantage of our curated fund range.
Giving users a premium and personal wealth management experience.
Allowing faster deposit times, greater interest and returns for all customers.
Like our past rounds we’re offering this crowdfund though our partners at Crowdcube, the leaders in crowd equity investing. If you’d like to join this round, make sure to set up your Crowdcube account and have your logins ready.
Note that if you’re new to Crowdcube you’ll need to create your Crowdcube account and be approved at least 24 hours before we go live.
Due to the huge volume of new customers we expect this crowdfund to hit capacity very quickly.
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