London fintech expands national footprint with Newcastle base

A London-based fintech firm has expanded its national reach with a new base in the North East.

Inclusive fintech business Pockit has launched its newest office in Newcastle as part of its growth strategy.

Founded in 2014 with a mission to create a better current account for customers ‘left behind’ by high street banks, Pockit offers users current account services as well as tools to help them manage their finances.

Pockit has become part of the growing cluster at HiveTree, a new tech-focused workspace in Newcastle city centre.

Since joining the city, Pockit has already recruited almost 30 people from the local talent pool.

The news follows a Series B fundraise in ealy December, where the firm secured £15m through from existing and new investors.

Virraj Jatania CEO and founder of Pockit commented: “Our decision to set up an office in Newcastle and join their thriving and fast-growing fintech community was down to the collaborative nature of the business community, its ability to attract and retain talent and reputation as a place to grow a tech business.

“We were quickly able to set up our offices and hire a skilled high-performing team. We have a high number of customers from the North of the UK, which also added value.

“The talent pool of graduates from Newcastle’s two major universities and the city’s quality of life were decisive points when we compared the city with other locations.”

Cllr Ged Bell, cabinet member for employment and culture at Newcastle City Council added: “This new investment in Newcastle is testament to the confidence businesses have in our city as a place to locate and grow their business and we cannot wait to watch Pockit grow and thrive here.

“Inward investment plays a vital role in the creation of jobs and opportunities for those who live and work here. We are confident this will be the first of many businesses choosing Newcastle as we start the new year and work towards economic recovery.”

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