Manchester FinTech firm Arro Money has passed a major business milestone, reaching 15,000 account holders in just 10 months.
The news comes after the business, which is a product of Marq Millions Limited, launched its multi-level personal accounts and unique business accounts specifically tailored to SMEs, start-ups, and sole traders earlier this month.
As a result of Arro’s growth, it has moved to a larger office in Manchester and tripled the size of its team in the last six months to handle increasing customer demand.
“We’re thrilled to see how much the business has grown and so rapidly too,” said chief executive Muhammad Asim, who credited the firm’s growth to its flexible personal and business accounts which can be opened in minutes.
“We’re proud of what we’re delivering to those who need financial services and have been turned away from traditional banks.
“The rapid growth we’re seeing demonstrates that the product really does fit with our customer’s requirements.”
Arro Money has also outlined plans for further growth this year; the company aims to onboard a further 200,000 clients in 2018.
Asim added: “Our business growth shows no sign of slowing, and we’re set to have an incredible year, supporting more businesses and individuals to access the financial services that they vitally need.”
Asim is speaking at BusinessCloud’s ‘The Future of FinTech’ breakfast event taking place on 12 July in London.