Simon Rabin is co-founder and chief executive of Chip, the London, England, app that automates saving and offers savings accounts, ISAs and funds. He founded it in 2017 with Alex Latham, and for most of its life its backers were its own customers.
An App That Saves for You
Chip's first product was an algorithm that looked at a user's spending and moved small amounts into savings automatically, so people could save without thinking about it. It was built for people who meant to save but rarely got round to it. From there it added interest-paying savings accounts, cash and stocks-and-shares ISAs, and investment funds.
Built on Crowdfunding
Chip relied almost entirely on equity crowdfunding to grow, raising about $93.6M through Crowdcube from more than 30,000 retail investors. Many of the people who saved with the app also owned a piece of it, over several rounds on the platform.
Channel 4's Advertising Stake
In January 2026 Channel 4 Ventures became Chip's first institutional investor, in a round of about $22.7M that valued the company at about $278.2M. The broadcaster's stake is paid in advertising time, putting the app in front of television audiences.
Chip Today
Chip's revenue was about $31.8M in 2024, and it has more than 500,000 active users with about $8.0B in assets. Rabin has talked through the company's path in a Sifted interview. He started with a tool that saved a few pounds at a time without asking. Nine years on, the app holds billions for its users, and thousands of them are also its owners.
