Kashet, a UK-based neobank, raised GBP 5.4 million (~USD 6.7 million) in a Series A funding round, with participation from Trifork Labs. This funding also marks Kashet’s emergence from stealth. 

The company intends to use the fresh funds to support its expansion.

Kashat has already been approved by the Financial Conduct Authority (FCA) in obtaining a license to function as an electronic money platform, Account Information Service Providers (AISP), and Payment Initiation Service Provider (PISP). The company is intending to apply for registration under the UK FCA 5th Money Laundering Directive (MLD) and a Swiss Fintech License through Switzerland's Regulatory Authority, FINMA.

Founded in 2018, Kashet offers a financial solution app to customers and private banking clients that operates on a membership basis.