Non-football investments of Alex Ferguson
The legendary coach of Manchester United Alex Ferguson invested last year to the fintech startup Pockit that carried out transactions more than for $130 million.
The company founded in 2009, has now about 90 000 clients in Great Britain. The founder and CEO of Pockit Virraj Jatania hopes there will be more than 100 000 clients until the end of 2016.
Clients of Pockit are low-paid British. They receive a prepaid card. “We open for them the account where it is possible to receive a salary or benefit” — explains Jatania.
Pockit is not the only one with a target on low-income segment of British. Loot issues pre-paid MasterCard for students. Recently opened banks Monzo and Tandem offer youth the accounts with management through applications. The Curve application allows British to manage in general all their cards. What does Pockit differ in? Social mission. All listed companies sell the services to generation of 2000’s. Pockit is for the most unsecured British, who is not interesting for traditional banks.
There are a lot of such people in Great Britain. “4-5 million people —Jatania shares results of the researches. — If banks also provide them any services, then they give the credits on very severe conditions”.
Social mission of Pockit drew attention of Sir Alex Ferguson. He invested 1 million pounds sterling in a startup in 2014. “We got acquainted through the common friend before I founded the company — says Jatania. — Sir Alex pays much attention to the support of proletariat therefore he liked my idea”.
Pockit provides services for any client. The opening of account takes only 2 minutes and costs just 99 pennies. The same payment is charged for each transaction. Business looks very perspective.