Another digital banking startup has raised funding this week, this time to expand a current account offering aimed at students and millennials.

Loot, a startup begun in 2014 by founder Ollie Purdue — who was finishing up school at the time of the company’s founding — has raised £2.2 million, or about $2.9 million, in a Series A funding.

The company is looking to build products in lending and wealth management, according to reports of the round.

Loot does not have a banking license at the moment, but rather operates under an electronic money license, via a partnership with Wirecard. Its current account product comes equipped with both a mobile app and a physical Mastercard.

Read more at TechCrunch and Finextra.

To learn more about the latest developments in funding and fintech startups, join us on March 5-6, 2018 at the Parc 55 in San Francisco for Bank Innovation 2018. Click here to register.