Loot

Founded in 2014, Loot was a financial technology company that provided a prepaid debit card and a money management app primarily targeting students and millennials in the UK. The service was designed to help users track spending, create budgets, and save money. Loot was not a licensed bank but operated as an E-Money Directive (EMD) Agent, with customer funds held by its partner, Wirecard Card Solutions Limited. Despite raising over £15 million in funding, the company faced financial difficulties and went into administration in November 2019, subsequently ceasing all operations. Its technology and some staff were later acquired by RBS for its now-defunct Bó digital banking project.