September 8, 2020

Our plan to become a unicorn

Just to be clear, we don't mean the mythological kind.

If you're unfamiliar with the other definition denoted to 'unicorn', in the business sector it refers to a private startup valued at over $1 billion USD (around £760 million).

Once a company has gone public (IPO) or has been acquired, they are stripped of their horn and are no longer considered a unicorn.

For those who love a bit of a back story, the term was first coined in 2013 by Cowboy VC founder, Aileen Lee, in a blog on Tech Crunch

Since 2001, the UK has seen 18 unicorn startups, including some familiar faces such as Just Eat, Monzo, Revolut, Deliveroo Skyscanner, and Zoopla.

In the last decade, unicorns from the banking and financial services sector have dominated the pool, predictably due to the changes to policies that followed the financial crisis - and that's our cue.

Chip's growth

It was our ambition to hit 250,000 savers by the end of 2020, despite this year being like no other, we have hit our 2020 targets already.

Chip is now sitting on 280,000 users and we’re not slowing down.

Whilst COVID has been hard for some businesses, for Chip it has led to acceleration.

As a fintech focused on saving rather than spending, we have found ourselves enormously in demand, as a mobile-first generation starts thinking about their long term financial goals.

Chip’s growth is driven by the product itself.

We now offer one of the markets highest returns for FSCS-eligible savings.

On top of the returns, our data science team has honed an algorithm we believe is on par with expert wealth managers.

This will make Chip the app of choice not just for saving up, but for managing wealth, ISAs, investment funds and even pensions.

We are confident these USPs create a product proposition that sells itself, leading to fantastic viral growth.

It is our ambition in the next month to launch the best return in the market and for Chip to be the obvious winner in our space.

We’re ready to accelerate our growth even further and help millions save billions.


A key part of our strategy has always been to create a sustainable business model with great unit economics. There is no point growing like we are without our investors seeing great returns.

In the last quarter we have validated a sustainable revenue stream for Chip and we are on track to generate significant annual recurring revenue.

We anticipate accelerating this once we launch our premium product ChipX later this year.

Fundamentally, we will make money when our customers see the real value in the product.

So our long term profit model is based on delivering market-beating returns, with Chip receiving a commission for investment funds and other returns products, as we increasingly capture a slice of the wealth management market.

We see this as a sector ripe for disruption with our cutting edge digital technology.

Don’t believe us? Have a read:

We've been covered in the press this year a lot! In case you missed it, there's a quick round-up here.

Check what the press says about us

No time to read? Watch our explainer videos

We've pulled together three short videos to explain how investing in Chip works and what your role as an investor will be.

But please note Chip is not authorised to give investment advice. Please visit for more information on making an investment of this nature.

Want to be part of the future of Chip?

Join our community of 11,000 investor and request access to our biggest funding round yet here:

Please remember, your capital is at risk

At Chip we believe that investing should be for everyone. But equity investing is not without its risks.

Investing in this convertible or investing in any start-up is high risk. 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.

When investing your capital is at risk

Remember your Capital is at Risk and past performance is not a reliable guide to future returns. The value of your investment can go down as well as up and you might get back less than you originally invested.

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