Name

Cahoot

Legal name

Santander UK plc

Website

https://cahoot.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Rate Spread: Cahoot earns revenue through the spread between interest paid to savers and returns on lending activities, typical for deposit-taking banks.
2. Foreign Currency Conversion Fees: Charges a 2.95% foreign currency conversion fee on international card transactions (both purchases and cash withdrawals), providing a direct fee revenue stream.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Cahoot is a digital-only banking division of Santander UK plc that offers UK residents a focused portfolio of savings products: a variable-rate Simple Saver (4.17% AER) for balances up to £500,000, a Sunny Day Saver (5.00% AER) for balances up to £3,000, and 1- or 2-year Fixed Rate Bonds (4.20% AER). Customers access and manage accounts exclusively through an online banking platform, supported by a Visa contactless debit card for payments and overseas cash withdrawals.

Product overview

Cahoot is a digital banking division of Santander UK plc offering a focused portfolio of savings and banking products. The core offering consists of three savings products: the Simple Saver (4.17% AER variable, up to £500,000), the Sunny Day Saver (5.00% AER variable for balances up to £3,000), and Fixed Rate Bonds (4.20% AER fixed, available in 1-year and 2-year terms). These are complemented by a contactless Visa debit card with international usage capabilities and a currency fee calculator for abroad transactions. Customers access all services through Cahoot's Online Banking platform, which supports account management, payments, alerts, and security features. Personal loans are also available through the partnership with parent company Santander. The FSCS deposit protection limit applies across both Cahoot and Santander brands combined.

Differentiator

Problem solved

Functional benefit

Brands

• cahoot Simple Saver: A flexible savings account with 4.17% AER variable rate for 1 year on balances up to £500,000.
• cahoot Sunny Day Saver
• cahoot Fixed Rate Bond

Products and services

• cahoot Simple Saver

Quantifiable outcome

• 4.17%-5.00% AER savings rates available
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Santander UK plccoreOthersCahoot is a division of Santander UK plc, operating as a digital-only banking brand under the parent company's regulatory umbrella. All deposits are covered by FSCS protection shared across both brands. The relationship provides Cahoot with Santander's regulatory licensing, brand credibility, and infrastructure while allowing independent product positioning.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Direct peers

• Charter Savings Bank: A UK online-only savings bank offering a focused portfolio of fixed-rate bonds and variable savings accounts to retail customers. The closest like-for-like comp to Cahoot on product mix, digital-only distribution, and single-category focus.
• Aldermore: A UK challenger bank with a strong retail savings franchise alongside SME and asset finance. Comparable to Cahoot as a UK non-incumbent deposit-taker competing for retail savers, though with broader product scope.
• Paragon Bank: A UK challenger bank that offers a retail savings range (including fixed-rate bonds and ISAs) alongside buy-to-let and commercial lending. Directly comparable to Cahoot on the savings side and as a non-incumbent UK deposit-taker.
• Atom Bank: A UK digital-only challenger bank offering savings, mortgages, and business lending through a mobile-first platform. Comparable to Cahoot as a UK digital-only deposit-taker competing for the same retail saver.
• Tandem Bank: A UK digital challenger bank offering savings accounts alongside green mortgages and personal loans. Comparable to Cahoot as a UK digital-native deposit-taker targeting retail savers.
• Zopa Bank: A UK digital bank offering savings products, credit cards, and personal loans. Comparable to Cahoot as a UK digital-first retail savings and consumer credit provider targeting a similar customer base.
• Investec (UK Savings): A UK private bank and wealth manager offering savings accounts and fixed-term deposits alongside wealth services. Comparable to Cahoot on retail savings product mechanics and on serving higher-balance savers.

Broad incumbents

• Monzo: A UK digital bank with millions of customers offering current accounts, savings, lending, and payments. Broader than Cahoot, but a direct competitor for the same UK digital retail customer base and deposits.
• Starling Bank: A UK digital bank offering current accounts, savings, lending, and business banking. Wider product scope than Cahoot, but a direct competitor for UK digital retail deposits and savings customers.
• Chase UK: The UK consumer banking arm of JPMorgan Chase, offering current accounts, savings, and rewards via a mobile app. A larger and broader competitor to Cahoot for UK retail deposits, backed by a major global bank.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

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 Cahoot