Mode
Mode is a London-based, LSE-listed fintech operating a Bitcoin cashback cryptocurrency wallet built on open banking infrastructure. It targets mainstream consumers as a regulatory-compliant, mobile-first gateway into digital assets.
- Company typePrivate
- Founded2019
- HeadquartersLondon, United Kingdom
- Headcount1–10
- GTM typeB2C
- OfferingSoftware
What Mode does
Mode is a London-based fintech company founded in 2019 that operates a consumer-facing cryptocurrency wallet platform built around a Bitcoin cashback product. The wallet rewards users with Bitcoin on everyday purchases and is designed as a low-friction gateway for mainstream consumers who are new to digital assets, addressing barriers such as perceived complexity, lack of education, and regulatory uncertainty.
The underlying technology leverages open banking infrastructure to enable cost-effective fiat-to-crypto on-ramps, reducing the friction typically associated with acquiring digital assets. Mode distributes the wallet through a self-serve, mobile-first, product-led growth model targeting horizontal consumer segments rather than enterprise customers. Proprietary features include the Bitcoin Cashback Wallet mechanic and the open banking integration itself, which together form the company's core differentiators.
Mode monetizes through transaction fees associated with its cashback program and has signalled openness to expanding supported assets to include stablecoins. The company is publicly listed on the London Stock Exchange (ticker: MODE) and maintains an active regulatory engagement posture, including participation in the FCA-organized Crypto Sprint, positioning it as a compliance-oriented player in the UK crypto market. Headcount is reported at 1–10 employees, consistent with an early-stage operating profile, and no enterprise customers, pricing tiers, or revenue figures are publicly disclosed.
Mode firmographics
Firmographics- Name
- Mode
- Website
- https://modeapp.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Mode is a London-based, LSE-listed fintech operating a Bitcoin cashback cryptocurrency wallet built on open banking infrastructure. It targets mainstream consumers as a regulatory-compliant, mobile-first gateway into digital assets.
- Ownership category
- akta.pro rank
Mode industry classification
Industry- Product category
- Cryptocurrency Wallet Services
- NAICS
- Credit Card Issuing (52221)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks (FSADAIAE)
- akta.pro secondary industry
- Digital Wallet Platforms (Consumer & Merchant) (BPAMAFAC)
Keywords
Where Mode is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Markets served
Mode business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Bitcoin Cashback Program: Mode generates revenue through its Bitcoin cashback product, rewarding users with Bitcoin on transactions. The company positions this as a gateway product to drive crypto adoption among mainstream users.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Mode product offering
Product offeringCore offering
Mode offers a Bitcoin Cashback Wallet that rewards users with Bitcoin on everyday purchases, designed as an accessible entry point for mainstream consumers new to cryptocurrency. The wallet integrates open banking infrastructure to enable cost-effective fiat-to-crypto on-ramps, reducing friction for users entering the digital asset market and positioning cashback rewards as a gateway product for broader crypto adoption.
Product overview
Mode offers a cryptocurrency wallet centered around a Bitcoin cashback product. The wallet enables users to earn Bitcoin rewards on transactions while providing access to crypto services. The company positions its Bitcoin cashback feature as an accessible on-ramp for mainstream users entering the cryptocurrency market, with openness to expanding support to include stablecoins.
Differentiator
Problem solved
Functional benefit
Products and services
- Bitcoin Cashback Wallet
Companies that use Mode
Customer profileSegments1 record
Ideal customer profiles1 record
Mode technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Mode partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- FCA (Financial Conduct Authority)coreMode participates in FCA-organized initiatives including the Crypto Sprint, which serves as a model for regulator-industry collaboration. This engagement demonstrates Mode's commitment to regulatory compliance and positions the company as a constructive participant in shaping crypto regulatory frameworks.
Recent moves6 records
Expansion highlights4 records
Mode competitors and assessment
Company assessmentDirect peers
- Fold: Fold is a Bitcoin rewards and payments app that offers Bitcoin cashback on purchases, closely mirroring Mode's core product proposition of earning Bitcoin on everyday spending.
- Lolli: Lolli is a Bitcoin cashback rewards platform partnering with merchants to give users BTC back on shopping — directly comparable to Mode's Bitcoin cashback wallet model.
- Strike: Strike is a Bitcoin-native payments app offering low-cost conversion and rewards-based features; it overlaps with Mode on crypto on-ramp and everyday-spending utility.
- Moon (formerly Bitrefill Rewards): Moon offers a browser extension and card that rewards users with Bitcoin on purchases, closely matching Mode's rewards-on-spending thesis aimed at mainstream consumers.
- BitPay: BitPay provides a crypto wallet and merchant payment infrastructure for crypto acceptance; comparable to Mode on the consumer-wallet side and on enabling fiat-to-crypto flows.
- Wirex: Wirex is a UK-based crypto payments app offering a multicurrency wallet and crypto-backed card with cashback — a strong direct comparable on product, geography, and regulatory positioning.
Broad incumbents
- Crypto.com: Crypto.com operates a large crypto wallet and a cashback Visa card; it competes broadly with Mode on consumer crypto rewards and card-linked Bitcoin cashback, though at much greater scale.
- Block (Cash App): Cash App enables Bitcoin purchases and has historically offered Bitcoin-related rewards; it competes with Mode for mainstream US/global consumers seeking easy Bitcoin exposure.
- Coinbase: Coinbase is a leading crypto exchange and self-custody wallet provider; while broader in scope, it competes with Mode for new users entering crypto via simplified consumer experiences.
- Revolut: Revolut is a UK-headquartered super-app offering crypto trading, wallets, and rewards; it competes with Mode for mainstream UK consumers seeking easy access to digital assets alongside everyday banking.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Mode social profiles
Digital presenceMode financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mode leadership team
Management profileNumber of profiles
Profiles6 records
Mode funding detail
Funding detailFunding overview
Funding rounds4 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mode M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mode
What does Mode do?
Mode offers a Bitcoin Cashback Wallet that rewards users with Bitcoin on everyday purchases, designed as an accessible entry point for mainstream consumers new to cryptocurrency. The wallet integrates open banking infrastructure to enable cost-effective fiat-to-crypto on-ramps, reducing friction for users entering the digital asset market and positioning cashback rewards as a gateway product for broader crypto adoption.
Is Mode a public or private company?
Mode is a private company. It is classified as public and is currently operating.
When was Mode founded?
Mode was founded in 2019. It employs 1 to 10 people.
Where is Mode based?
Mode is headquartered in London, United Kingdom, in the Europe region.
How does Mode make money?
One revenue line is on record: bitcoin Cashback Program.
Who are Mode's main competitors?
Direct peers on record are Fold, Lolli, Strike, Moon (formerly Bitrefill Rewards), BitPay and Wirex. Broad incumbents are Crypto.com, Block (Cash App), Coinbase and Revolut.
Does Mode have an API?
No public API is recorded for Mode.
What industry is Mode in?
Mode's product category is Cryptocurrency Wallet Services. Its primary akta.pro industry code is FSADAIAE, On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks, with a secondary code of BPAMAFAC, Digital Wallet Platforms (Consumer & Merchant). Its NAICS code is 52221 and its SIC code is 6199.