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@ArmitageJim @premnsikka 1/ @TheFCA’s #Emoney op #Pockit’s survival ‘under threat' unless it secures cash injection. Another client of of Newcastle Building society’s notorious prepaid card unit aka #Wirecard UK ( + the subject of a future expose). 
2/ #Pockit, a serial loss-maker, was launched in 2014 by its honcho, the scion of the $billionaire Virraj brothers (who made their bones in Africa & the ‘Wild East’ following the breakup of the FSU) + their now sold offshore $billion personal-care products empire.
3/ Pockit’s clientele, however, couldn’t be more different from that of it’s honcho & the London startup scene - the ‘under-privileged’ & ‘unbanked’. Pockit was seeded by family wealth, early stage by vcs & tapped FCA auth. #Crowdfunding op #CrowdCube with a 8% convertible …
