The investment has been led by the European super-angel fund Angel Invest. Fintech industry veterans such as Dr Andrew Buckley (previously GM Prepaid Fintech at Mastercard) and James Sherwin-Smith (ex-GM, Real-Time Payments at Mastercard) have joined the round to equally support the early stage startup.

TABBit enables groups and individuals to manage expenses and request money back from their friends and family without needing to download a separate application. By integrating directly with UK banks, powered by secure Open Banking APIs, TABBit’s technology allows users to share requests and make payments via existing consumer banking apps.

Commenting on the company’s latest funding, Boy-Anthony Kuhne, CEO of TABBit said "During my tenure at Mastercard I experienced time and again the challenges presented by the fragmented banking landscape in the UK. When I discovered there was no easy solution available, I set out to create one myself, removing the challenges that UK consumers currently face when requesting payments from friends that bank with a different provider.” Boy-Anthony Kuhne continued.

On their investment in TABBit, Angel Invest commented: "We are always on the lookout for groundbreaking technologies that are disrupting traditional markets. TABBit’s innovative approach to simplifying financial transactions makes them a perfect addition to our portfolio. We are eager to support them in their journey to reshape the financial landscape."

With this investment, TABBit plans to expand its capabilities and reach, further simplifying and enhancing the payment experience for customers across the UK and beyond. TABBit’s strategy is to unify the user experience and enable seamless interoperability between banks.

Focused initially on the users in the UK market, TABBit continues its mission to unify a fragmented banking sector and make financial interactions more inclusive and enjoyable for everyone.

TABBit’s catchphrase ‘Get Paid. Pay back. Share.’ indicates the commitment to creating a hassle-free and secure solution for shared expenses.