Banks’ inability to use their customer’s data to help them save and dependence on credit products for profitability mean consumers are rewarded more for spending than for saving. Dozens was created to make saving easier and more rewarding for all, and is founded on a fundamentally new business model. Today Project Imagine, the parent of Dozens, is not a bank, but licensed as an e-money institution and an investment firm, and as such, is able to offer current accounts as well as investment products to UK customers.
Dozens has created a new home for your money. It brings together a current account, a smart budgeting tool, and a savings and investment manager in one app, along with cash rewards for good financial behaviour.
Dozens was founded by Aritra Chakravarty who previously spent 13 years at HSBC, across London, NY and HK, in M&A, trading, strategy, private banking & digital wealth management. Armed with $8m seed funding, Chakravarty and an unusually diverse team (Dozens is 67%+ women and 50%+ non-financial background) are looking to define the second generation of challengers.