Some of City’s most powerful dealmakers quietly buy stakes in new British fintech darling called HyperJar
Some of the City’s most powerful dealmakers have quietly bought stakes in a new British fintech darling called HyperJar.
Customers download a special money-sharing app which can be used to transfer money into their HyperJar account.
It is designed to make it easier to plan, share and spend money on a range of purchases. Sources said the customer base has grown from 35,000 to 150,000 in just two months.
Shining light: Sources said the HyperJar customer base has grown from 35,000 to 150,000 in just two months
The company’s investors include Robin Saunders, who runs private equity firm Clearbrook Capital, and Brian Magnus, a partner at private equity giant TDR Capital, which recently bought supermarket Asda for £6.8billion.
Saunders made her name at WestLB when she was involved in a series of high-profile deals, including helping Sir Philip Green to fund the purchase of the now failed department store group Bhs.
She also helped organise the refinancing of Formula 1, which was then controlled by Bernie Ecclestone.
Other HyperJar investors include Ian Osborne, who was once an adviser to former Prime Minister David Cameron.
He made a multi-million pound fortune from being an early investor in the Snapchat app, which is now valued at more than £60billion.