Dozens

Dozens, a brand under the umbrella of Project Imagine Ltd, was a London-based fintech company that operated from its founding in 2018 until its closure in 2022. The venture was established by Aritra Chakravarty, who brought extensive experience from the banking sector, having held roles at HSBC and as the Head of Digital & Payments for Global Banking & Markets. His background in traditional finance, coupled with a vision for a more integrated financial service, shaped the company's direction.

The company positioned itself as a comprehensive money management application, aiming to combine everyday banking with investment opportunities. The core offering was a financial app that integrated a current account, budgeting tools, and an investment platform. This model targeted individuals seeking a consolidated view and control over their finances, from daily spending to long-term wealth growth. Revenue was intended to be generated through interchange fees from its debit card, fund management fees from its investment products, and potentially other financial services. Its target market was the digitally-savvy consumer in the UK, a segment increasingly open to challenger banks and fintech solutions.

Dozens' product was an all-in-one mobile app. It provided users with a UK current account and a debit card for daily transactions. A key feature was its smart budgeting tool, designed to help users track their spending and improve their financial habits. The platform's distinct proposition was the integration of investment services, offering access to various risk-managed investment portfolios. This allowed customers to invest directly from the same app they used for banking, a significant convenience factor. Another element was a rewards program that offered cash incentives for positive financial behaviors, aiming to encourage saving and responsible spending.

Despite raising capital, including through a successful crowdfunding campaign, Dozens faced significant operational challenges. The company announced its decision to close down all customer accounts and cease operations in the summer of 2022. The closure marked the end of its journey to build a holistic financial platform for consumers. Keywords: personal finance, fintech, mobile banking, investment app, budgeting tools, challenger bank, money management, financial services, digital banking, wealth management