Chip is an AI powered money app that calculates what you can afford to put away and stashes money away automatically.
Chip is designed to put your money into savings in an intelligent manner that depends on your spending habits.
Chip was founded in 2016 by Simon Rabin. The company is based in London, London, UK.
Chip is building an app that uses your banking data to make personalised decisions about your money and automatically carry them out. The app automatically saves money for you, helps you earn better returns, and makes sure you hit your goals.
Chip's user base grew by more than 60% to over 400,000 while the total amount of saves processed swelled to over £640 million.
Chip securely connects with Barclays, HSBC, Santander, Lloyds, NatWest, Nationwide, RBS, TSB, Halifax, First Direct, Co-operative Bank and Metro Bank accounts.
Chip is backed by Future Fund, Crowdcube, and other individual investors. The company announced it raised £11.5M in equity crowdfunding on Oct 18, 2021. This brings Chip's total funding to $52.3M to date.