Many investors in digital banks will find their investment will be worth a fraction of what they expect.
The startup is raising £25m following its share-for-share acquisition of Harrods Bank
A few excerpts from the mobile-only bank’s accounts.
‘Polybius Bank’ raised $11m in one week with nothing more than a video, a prospectus and a promise to become a legally recognised bank. What we want to know is, what will Basel make of this new type of bank funding?
