Dozens

What Dozens does

Dozens was a UK consumer fintech, operated by Project Imagine Ltd (registered in England and Wales, company number 11153882), that launched in early 2019 as the first platform to combine an E-money licence with a MiFID licence in order to offer current account spending, savings and investment services within a single mobile application. Its core product was the Dozens app — a digital banking experience supporting Direct Debits, standing orders, Apple Pay and Google Pay — augmented by proprietary manufactured products including 5% p.a. fixed interest bonds aimed at younger customers who had limited exposure to capital-protected interest-bearing products. The technology stack was described as petabyte-scale with a cryptographic back-end architecture, supported by integrations with ClearBank, Marqeta and Visa, and internal tools built for operational compliance and cost control.

The business model was explicitly non-lending: Dozens declined to monetise through unsecured personal debt products such as BNPL or overdrafts, instead deriving revenue from consumer banking services (interchange, fees on the bond book, investment commissions) and, in a planned future stream, B2B technology licensing. Customer acquisition was product-led and viral — the company grew from 25,000 KYCs at end-2019 to c.60,000 KYCs purely through word-of-mouth, enabling marketing spend to be turned off entirely, while running the full operation with fewer than 30 staff. On 30 June 2022 the company announced closure of the consumer app; accounts were closed on 31 August 2022, remaining customer funds were placed into a Former Customer Trust administered by Truva Corporate Administration Limited (held with Coutts & Co, terminating 31 August 2028), and Project Imagine Ltd stated its intention to pivot to B2B operations and ultimately pursue a full UK banking licence.

Name

Dozens

Legal name

Project Imagine Ltd

Website

https://dozens.com

Company type

Private

Founded year

2019

Operating status

Closed

Headcount range

11–50 employees

Short description

Dozens was a UK consumer fintech that operated a mobile app combining a current account, savings (including 5% p.a. fixed interest bonds) and investment services under a dual E-money and MiFID licence, serving c.60,000 individual retail customers before closing in August 2022.

Ownership category

akta.pro rank

Product category

Digital Banking

NAICS

Portfolio Management and Investment Advice (52394), Depository Credit Intermediation (5221), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Execution-Only / Self-Directed Investing Platforms (FSAAAAAI)

Keywords

• Digital banking
• Consumer fintech
• Mobile current account
• Savings and investing
• Fixed interest bonds

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Consumer Banking Services: Dozens generated revenue through consumer banking services including spending accounts, savings products (5% p.a. fixed interest bonds), and investment services. The company explicitly chose NOT to rely on lending products like BNPL or overdrafts, rejecting high-margin unsecured personal debt products.
2. B2B Technology Licensing: Following closure of Dozens consumer app, Project Imagine shifted to B2B operations, planning to make their technology and insights available to established banks in need of new architectural models. This represents a planned future revenue stream from technology licensing.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Dozens operated a mobile banking application that combined a current (spending) account, savings products, and investment services within a single app, operating under both an E-money and MiFID licence. Its flagship offering was a 5% p.a. fixed interest bond product targeted at younger customers who had limited prior exposure to interest-bearing capital-protected products.

Product overview

Dozens was a digital banking application that operated under Project Imagine Ltd, combining spending, saving, and investing services in a single unified platform. The core Dozens App leveraged both E-money and MiFID licences to offer all three financial services in one place. Key products included spending accounts with Apple Pay/Google Pay support, 5% p.a. fixed interest bonds, and investment services. The company has since closed (accounts closed 31 August 2022) and a Former Customer Trust was established to return remaining funds to customers.

Differentiator

Problem solved

Functional benefit

Products and services

• Dozens App
• Fixed Interest Bonds
• Spending Account
• Investment Services

Quantifiable outcome

• Near-zero fraud rate achieved through AML and fraud prevention practices
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• ClearBankcoreTechnology or Integration · 1 January 2019ClearBank was a key banking partner that Dozens migrated services to for scalability as part of their new petabyte-scale tech stack.
• MarqetacoreTechnology or Integration · 1 January 2019Marqeta provided card processing infrastructure as part of Dozens' new technology stack for scalability.
• VisacoreTechnology or Integration · 1 January 2019Visa served as the payment network partner enabling card transactions including Apple Pay and Google Pay integration.
• Truva Corporate Administration LimitedcoreOthersOperates as the Trustee for the Former Customer Trust established to protect remaining customer funds after Dozens' closure. Former customer funds have been deposited into accounts held with Coutts & Co.
• Coutts & CominorOthersBanking institution where the Trust holds accounts containing former customer funds from Dozens.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Monzo: UK mobile-first challenger bank offering current accounts, savings and investing in a single app — the closest functional analogue to Dozens, but at substantially greater scale and capitalisation.
• Starling Bank: UK digital challenger bank providing current accounts, savings and B2B banking services through a mobile app — directly comparable business model and product set to Dozens, with additional B2B emphasis.
• Revolut: Global consumer super-app offering spending, saving and investing in one place — a more scaled and feature-rich direct competitor to Dozens' unified proposition.
• Atom Bank: UK digital challenger bank with a mobile-first current account, savings and mortgage proposition — comparable target segment (younger, mobile-native consumers) and product overlap with Dozens.
• Zopa: UK challenger that combines a current account, savings products and investment/wealth services in one platform — closely mirrors Dozens' spending + saving + investing bundle.
• Tandem Bank: UK digital bank offering current accounts, savings and green-mortgage lending through an app — comparable challenger positioning and bundled financial services approach.

Broad incumbents

• Wise: Established UK-headquartered fintech combining multi-currency spending and saving/investing features — broader product portfolio and significantly larger scale than Dozens, but overlapping core proposition.
• Lloyds Banking Group: UK incumbent retail bank offering current accounts, savings and investment products through digital channels — broad incumbent whose architecture modernisation needs are the target of Project Imagine's B2B pivot.
• HSBC UK: Large UK incumbent bank with current account, savings and wealth products — potential B2B customer for Project Imagine's licensing model given ongoing digital transformation programmes.

Others

• ClearBank: UK clearing bank and former Dozens infrastructure partner — not a customer-side competitor but a relevant ecosystem peer as a B2B banking-as-a-service provider serving similar fintechs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/wearedozens
• Facebookfacebook.com/wearedozens

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dozens