Tymit, the mobile-enabled credit card startup headquartered in London, has raised £4 million in funding. Tymit offers customers more flexibility and control over their purchases than a traditional credit card through its smart, proprietary technology.
The fundraise includes a mixture of debt and equity funding. The investment will be used to develop a “world class” customer servicing platform and underwriting practice to enable rapid growth.
Martin Magnone, co-founder and CEO of Tymit, said:
“It’s exciting to be working with our funding partners as we bring Tymit to the market. Our product is a refreshing take on the traditional credit card, blending convenience with a new flexible and genuinely transparent experience.
“We’re looking forward to welcoming customers to Tymit and are confident that our approach will offer a level of control that will make it easier to make good spending choices.
“The credit card market has remained stagnant for too long, but with app-based banking more popular than ever – now is the time to offer real innovation.”
Tymit is on a mission to make credit cards completely transparent and fair to use, with cutting-edge fraud protection.