Founded in 2016, Kroo secured its full banking licence in 2022 and has since launched its current account offering. As part of its mission to be ‘Bigger than banking’, Kroo is planting two trees for every new customer. It aims to plant 1 million trees by 2024.
Kroo has now surpassed 330,000 tree plantings, buoyed by attracting up to 1,000 new customers per day. To mark Earth Day, the new in-app feature enables Kroo customers to select where their trees are planted.
The initiative currently supports two projects. One in India is helping combat food insecurity through planting fruit trees with smallholder farmers in marginalised communities. The initiative also teaches farmers to care for their trees. The second, in Guatemala, is improving the biodiversity and climate resilience by planting 350,000 trees. On top of this, Kroo’s Board level of leadership consists of a Board Social Conscience Committee and an Ethical Committee.
As well as helping out the planet, Kroo continues to develop and improve its services by streamlining its application process. Kroo is also increasing 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;
- No charge for using ATMs overseas from 1 April 2023 to 31 October 2023;
- An app that will allow customers to spend together, track, split and settle up simply in real-time;
- In-app card controls, messaging service, and easy access to credit score;
- VISA contactless debit card with Zero FX fees;
- UK-based customer services team;
- In app tree planting and community building referral and scheme through its charity partner
