Eliott pumps £10m into digital bank Chetwood

10o August 2020

As reported in the Telegraph this week, New York hedge fund Elliott has upped its stake in Chetwood Financial, bringing its total equity in the firm to £100m.

The further investment follows a successful year for Chetwood, as it continues to expand its team and launch new products aimed at using technology to make people better off.

Since obtaining its banking licence in 2018, Chetwood has launched a dynamic loan LiveLend, which rewards customers for financial responsibility with better rates, and SmartSave - designed to offer customers a simple way to save online.

Unlike other FinTech businesses, Chetwood has continued to grow throughout the COVID-19 pandemic, hiring around 30 people over the duration of lockdown, with staff working remotely rather than at its head office in Wrexham.