Sir Alex Ferguson was the manager of the soccer team Manchester United for 27 years, but now he is a savvy fintech angel investor. He recently joined a £1 million seed round funding for Pockit. The startup is creating a prepaid card, which provides 10% cash back at certain retailers.
Pockit provides a prepaid card which is issued under the MasterCard brand. Users of the card are able to earn up to 10 per cent cashback from high street retailers. Commenting on his investment, Ferguson says, 'I am excited by the plans for Pockit, their management team is superbly placed as the Jatania family has an outstanding track record of building businesses from the ground up and growing brands.' The £1 million seed funding round sits on top of a previous transaction which saw Lornamead co-founder Danny Jatania inject an identical sum.