Mettle

Description

Mettle is a free business account by NatWest that helps you get ahead today. It's built for small businesses, startups, limited companies, sole traders, contractors and freelancers. We believe there is something different about people who start their own business – a unique spirit that sets them apart. A blend of drive, ambition and self belief – people who have mettle. So we’ve built an app that embraces that spirit – one that our customers can rely on and makes managing finances as fast and simple as possible.

Overview

Type:	Private
Foundation year:	2018
Location:	London, United Kingdom
Number of employees:	51-200
Founders:	Private
Website:	https://www.mettle.co.uk/

Target geographic market:

Europe

Awards:

About Product/Service

Core product offerings for individual/retail customers	Business Current Account
A free current account switch service	No, but Mettle plans to offer a Current Account Switching service in the future
Regulators/Compliance	All the money held in the Mettle account is covered under the FCA safeguarding requirements and the corresponding regulations. The corresponding regulations refer to Electronic Money Regulations 2011 and Payment Services Regulations 2017. The Mettle account is an e-money account provided by Prepay Solutions (PPS), a trading name of Prepay Technologies Ltd which is an electronic money institution authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (FRN 900010) for the issuing of electronic money.
The Base Currency	£ (GBP)

Product cost	Free
Openning a current account (business and personal)	Free
Monthly fees	No
Issuing physical card and delivery	Within 3-5 working days
Money transfers/payments	Free, all payments sent from Mettle account are Faster Payments. No international payments. PrePay Technologies Ltd are Mettle's payment service provider. You can make contactless payments up to a £45 per transaction.
ATM withdrawals	Free, daily limit is £500 per day and £4,000 per month
Overdrafts	No
Other	Not integrated with Google Pay. Mettle works with most services that support MasterCard. Mettle has a balance limit of £50,000 for sole traders and £100,000 for limited companies
(a) a personal account	No
(b) a business account	Yes
A free current account switch service	No, but Mettle plans to offer a Current Account Switching service in the future

Key people

Marieke Flament CEO

Funding rounds

Last Funding Date	N/A
Last Funding Amount	N/A
Last Funding Type	N/A
Total Funding Amount	N/A
Number of Funding Rounds	N/A

Financials

Customer/Products segments	Online banking, payments, accounting
Key product offering	Business Current Account
Banking license	No, Mettle is operating under an e-money licence held by PrePay Solutions (PPS)
Type of customers	Small businesses and sole traders (limited companies with up to two owners) – which includes contractors, freelancers and entrepreneurs
Number of investors	N/A
Number of lead investors	N/A
Names of lead investors	N/A

Tech stack

The technologies that underpin a platform (FX, identity, infrastructure, security, payments gateways, business systems, APIs, etc.)	Mettle has an integration with FreeAgent, Xero and QuickBooks. If you use different software, you can export transactions to .csv, Excel and OFX files, which are compatible with Sage, Crunch, and Wave.
Devices supported	iPhone V12.2 and above; Android V7 (Nougat) and above
Languages	English

Competitors

Save comparison	Founding Date	Type	Tags
x Nubank Nubank is the leading digital finance company in...	2013	Private	fintech, challenger banks
x OakNorth OakNorth is a credit science platform that...	2015	Private	fintech, challenger banks
x Gemalto Gemalto is an international digital security...	2006	Private	Gemalto
x Coconut Coconut is the current account that takes care of...	2016	Private	Challenger banks, fintech
x Current Current's CEO Stuart Sopp founded Current with...	2015	Private	challenger banks, fintech