Nick Herd

Nexves, which has also been supported by accelerator programmes run by Royal Bank of Scotland and Elevator, is “a platform that enables a swarm of individuals to collectively act together for mutual self-interest”.

Founder Nick Herd explained: “It operates like your current account, while giving you an ownership in the future’s most innovative start-up companies. All investments are made from the interest accrued on the money you deposit. The amount you put in remains yours and never reduces - unless you spend it.”

In a blog post, he elaborated: “The first wave of challenger banks has amassed huge user numbers by doing little more than providing a more functional user interface, the next leap forward will come from enabling things which were previously impossible. That’s our goal.

“The future we imagine is akin to a Netflix of financial services. Fintechs are on the brink of offering consumers a personalised menu of products instead of one-size-fits-all services. The more that the complexity of switching etc. can be abstracted away, the better for the end user.”