Steinfeld Law has acted for the Dorfman Family as the lead investors in new fintech company USnoop’s latest investment round.
Snoop, created by former Virgin Money boss Dame Jayne-Anne Gadhia, is a new app designed to use machine learning to track consumers’ bills and spending patterns, using the data to provide money-saving tips. Dame Gadhia predicts that the app will save customers £1,500 annually on their household bills. The platform launched a month ahead of schedule in April 2020 in order to help consumers whose finances have been affected by the Covid-19 pandemic cut their outgoings.
Sir Lloyd Dorfman commented that “household finances were under pressure even before the coronavirus and we look forward to helping the Snoop team scale rapidly to assist consumers in making the most of what they’ve got.”
Existing shareholders, Salesforce Ventures LLC and Havisham Assets Limited, also participated in the latest funding round.
Steinfeld Law were pleased to be able to play their part in assisting the Company and indirectly the public in these exceptional times.
USnoop was represented by Macfarlanes LLP.