About Bits
Bits is a company based in London (United Kingdom) founded in 2018.. Bits has raised $125 thousand across 2 funding rounds from investors including Y Combinator. Bits offers products and services including Bits Credit Card, Bits Store Card, and Bits Subscription. Bits operates in a competitive market with competitors including Wollit, Vanquis, LOQBOX, Aquacard and BuildMyCreditScore, among others.
- Headquarter London, United Kingdom
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
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Social
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- Legal Name Fea Card Limited
- Date of Incorporation 12 Oct, 2018
- Jurisdiction LONDON, ENGLAND
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$125 K (USD)
in 2 rounds
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Latest Funding Round
$125 K (USD), Seed
Jun 01, 2020
- Investors
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Employee Count
Employee Count
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Products & Services of Bits
Bits offers a comprehensive portfolio of products and services, including Bits Credit Card, Bits Store Card, and Bits Subscription. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Physical card for global shopping to build credit through timely payments.
Digital card for Bits store purchases aiding credit score improvement.
Platform for credit monitoring and reporting to enhance financial status.
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Funding Insights of Bits
Bits has successfully raised a total of $125K across 2 strategic funding rounds. The most recent funding activity was a Seed round of $125 thousand completed in June 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Seed — $125,000
- First Round First Round
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2020 | Amount | Seed - Bits | Valuation | Y Combinator |
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| Nov, 2018 | Amount | Seed - Bits | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Bits
Bits has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Y Combinator. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Bits
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Bits
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Bits Comparisons
Competitors of Bits
Bits operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Wollit, Vanquis, LOQBOX, Aquacard and BuildMyCreditScore, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of an online platform for a cash advance
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| domain | founded_year | HQ Location |
Offers credit cards, savings accounts, loans, and financial tools for individuals.
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| domain | founded_year | HQ Location |
Provider of financial tools for credit scores repair
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| domain | founded_year | HQ Location |
Offers credit cards for bad credit to help improve user credit scores effectively.
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| domain | founded_year | HQ Location |
Provider of a debit card service for credit score building
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Bits
Frequently Asked Questions about Bits
When was Bits founded?
Bits was founded in 2018.
Where is Bits located?
Bits is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Is Bits a funded company?
Bits is a funded company, having raised a total of $125K across 2 funding rounds to date.
What does Bits do?
Bits was established in 2018 in London, United Kingdom, within the fintech sector focused on personal credit building. Virtual credit cards are offered to enable score improvements through everyday transactions. Usage is supported for bill payments, cash withdrawals, and online purchases. An accompanying mobile platform is provided, compatible with iOS and Android systems for user access.
Who are the top competitors of Bits?
Bits's top competitors include Wollit, LOQBOX and BuildMyCreditScore.
What products or services does Bits offer?
Bits offers Bits Credit Card, Bits Store Card, and Bits Subscription.
Who are Bits's investors?
Bits has 1 investor. Key investors include Y Combinator.