Established in 2016, Kroo secured its full banking license in 2022 and has since rolled out its current account offering. As part of its mission to be “Bigger than Banking”, Kroo plants two trees for every new customer. 1 million trees are to be planted by 2024.
Kroo has now surpassed 330,000 tree plantations, fueled by the acquisition of up to 1,000 new customers a day. In celebration of Earth Day, Kroo customers can choose where their trees are planted with the new in-app feature.
The initiative is currently supporting two projects. One in India is helping tackle food insecurity by partnering with smallholder farmers to plant fruit trees in marginalized communities. The initiative also teaches farmers to take care of their trees. The second in Guatemala improves biodiversity and climate resilience by planting 350,000 trees. In addition, Kroo’s board of directors consists of a Social Conscience Committee and an Ethics Committee.
In addition to helping the planet, Kroo continues to develop and improve its services by streamlining its application process. Kroo is also expanding its product range.
Kroo’s current offering includes:
- 3.33% AER / 3.28% Gross (variable) on current account balances up to £85,000;
- Current account with overdraft and deposit protection;
- Free use of ATMs abroad from April 1, 2023 to October 31, 2023;
- An app that allows customers to collaborate, track, split and easily settle expenses in real-time;
- In-app card controls, messaging and easy credit score access;
- VISA contactless debit card with no FX fees;
- UK based customer service team;
- In-app tree planting and community building endorsement and program by his charity partner