Jaja Finance is set to roll out a new digital credit card called Jaja after raising more than £3m on crowdfunding platform Seedrs.

The latest fundraising was led by Blystad Group and Pollen Street Capital. The business has currently onboarded 760 investors.

Jaja Finance digital credit card will enable tailored responses

Apart from facilitating the launch of the digital credit card, the capital will also enable Jaja Finance to expand its team.

Managed through the Jaja mobile app, the new digital card will be designed to enable users track their spending behaviour.

Users will also be allowed to link the card to a bank account to make payments.

Jaja Finance CMO and co-founder said: “The response from investors on Seedrs has surpassed our expectations and we are now focused on launching Jaja Card to our rapidly growing early adopter community.

“We’re encouraged by the response on Seedrs and it seems consumers agree that the credit card industry needs a major upgrade.”

Jaja was founded by Per Elvebakk, Jostein Svendsen and Kyrre Riksen. Its Seedrs campaign is currently open to accepting more investment, with the campaign’s investors to get priority access to the card.

Digital debit and credit cards are becoming more popular with the rise of contactless technology.