Mode

Cryptocurrency Wallet Servicesmodeapp.com

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

Cryptocurrency wallet
Bitcoin cashback
Open banking crypto
Crypto on-ramp
Digital asset platform

Where Mode is headquartered

Location

Headquarters

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 offering

Core 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 profile

Segments1 record

Ideal customer profiles1 record

Mode technology and API

Technology

Technology focussed Yes

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature2 records

Mode partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

FCA (Financial Conduct Authority)coreStrategic or Co-development PartnerMode 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 assessment

Direct 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 financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Mode leadership team

Management profile

Number of profiles

Profiles6 records

Mode funding detail

Funding detail

Funding 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 investment

M&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?

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.