Don't invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
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Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
- You could lose all the money you invest
- If the business you invest in fails, you are likely to lose 100% of the money you invested. Most start-up businesses fail.
- You are unlikely to be protected if something goes wrong
- Protection from the Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover poor investment performance. Try the FSCS investment protection checker here.
- Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
- You won’t get your money back quickly
- Even if the business you invest in is successful, it may take several years to get your money back. You are unlikely to be able to sell your investment early.
- The most likely way to get your money back is if the business is bought by another business or lists its shares on an exchange such as the London Stock Exchange. These events are not common.
- If you are investing in a start-up business, you should not expect to get your money back through dividends. Start-up businesses rarely pay these.
- Don’t put all your eggs in one basket
- Putting all your money into a single business or type of investment for example, is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
- The value of your investment can be reduced
- The percentage of the business that you own will decrease if the business issues more shares. This could mean that the value of your investment reduces, depending on how much the business grows. Most start-up businesses issue multiple rounds of shares.
- These new shares could have additional rights that your shares don’t have, such as the right to receive a fixed dividend, which could further reduce your chances of getting a return on your investment.
If you are interested in learning more about how to protect yourself, visit the FCA’s website here.
| Type: | Non-EIS |
|---|---|
| Sector: | Fintech |
| Target return: | 10x |
| Funds raised / sought: | £9.5m / £10m |
| Minimum investment: | £20,000 |
| Next application deadline: | 31 July (5pm, cleared funds) for final close |
| Type: | Non-EIS |
|---|---|
| Sector: | Fintech |
| Target return: | 10x |
| Funds raised / sought: | £9.5m / £10m |
| Minimum investment: | £20,000 |
| Next application deadline: | 31 July (5pm, cleared funds) for final close |
| About this deal | What to expect post-investment |
|---|---|
| Haatch, the co-investor in this offer, has reviewed the opportunity. Please read the offer documents carefully. | Haatch will produce initial and ongoing shareholder documents. |
This overview is provided to make it easier for you to form your own view about the opportunity.
From the co-founders of Monzo, Starling and GB Bank: neobank aiming to be the world’s first "agentic-AI" bank
Paul Rippon, co-founder of Monzo and Starling banks, and Stephen Black, co-founder of GB Bank, are launching Enzo (the expected trading name of Hey Enzo Ltd or "the Company"): an AI-powered digital bank currently seeking a UK banking licence.
Its personalised AI agents are designed to monitor customers’ finances, identify where they can save money or improve returns, and help them act on these, by proactively offering solutions.
The problem
For many, financial affairs tend to be complex and increasingly fragmented across multiple banks, lenders, investment platforms, insurers and household service providers.
Neobanks – such as Monzo and Starling – have made it faster, cheaper and more convenient for consumers to access some services. But the current system remains broadly reactive – it relies on people recognising a need, finding and comparing solutions, and then acting. It rarely anticipates needs or intervenes to proactively improve their financial outcomes.
This can in some cases lead to suboptimal outcomes. For instance, a recent official survey found 13.1 million UK adults had low financial resilience, while one in 10 had no cash savings at all. Meanwhile, 61% of those with more than £10,000 in investible assets held at least three-quarters in cash, often earning little interest.
Enzo's planned solution
Enzo aims to change this. It is creating AI-powered financial agents that will continuously monitor a customer’s financial life, spot potential problems and opportunities, raise these at the right time and help the customer take action, to help improve their financial position over time.
The Company is currently applying for a UK banking licence (it expects this to take 18-24 months) and plans to launch as a competitor to leading retail neobanks Revolut, Monzo and Starling in 2028 – not guaranteed.
Unlike first-generation neobanks, and traditional banks looking to incorporate AI, Enzo is AI-native – it is built around agentic AI. The founding team believes whoever masters agentic-AI banking first could gain an insurmountable competitive advantage – and enable better financial outcomes, better-performing savings and better consumer care – you should form your own view.
The experienced team is backed by significant personal and external capital. Initially operating in North East England, with plans to scale nationally and then internationally, Enzo’s target customers will be retail consumers (savers and borrowers) and SMEs seeking business finance.
Your financial assistant named Enzo – The team is building a hyper-personalised banking experience, where AI-powered digital agents will act as always-available financial assistants. Addressed as ‘Hey Enzo’ (as in ‘Hey, Alexa’ or ‘Hey, Siri’), these AI-agents offer to help customers optimise their finances – for instance, by suggesting better mortgage or energy deals, flagging unused subscriptions or recommending savings actions. They can also track taxable events and help with estate planning.
High interest savings – Enzo aims to offer highly competitive, dynamically-priced savings products using real-time market intelligence.
Loans – Enzo plans to use credit-decisioning engines supervised by experienced professionals to deliver fast, fair and transparent lending decisions. If a customer is declined, Enzo's system is expected to help find alternatives.
AI-native technology – The Company is building a modern cloud-first AI-native tech stack, incorporating best-in-class third-party components. The approach aims to deliver operational resilience, security and rapid product innovation.
Not looking to reinvent the wheel across the whole tech stack, we are instead aiming to use the best of the last ten years of technology progression to deliver tried and tested individual component parts put together in a new way to optimally benefit from the new capabilities made possible today by the advancement of that technology."
Why consider investing?
UK retail banking is a multitrillion-pound market, in which the founding team has identified several gaps it believes it could be well qualified to address.
The Company’s founders have significant relevant experience. Paul Rippon previously co-founded Monzo and Starling banks whilst Stephen Black co-founded specialist challenger bank GB Bank, providing finance for UK property developers and SMEs.
Banking licences are not often granted – but once obtained they can create a structural moat. Paul achieved a UK banking licence at Monzo in record time, and Enzo will be his sixth banking licence application – he estimates around 80% of the regulatory application will be reusable from prior submissions. Enzo's governance model is designed to be highly attuned to regulatory changes in the UK banking sector.
The Company, as most banks do, intends to generate revenue principally from the interest margin between customer deposits and lending, supplemented by fees and commissions.
Management considers the unit economics to be compelling – you should form your own view. It anticipates its digital engagement and AI-assisted hyper-efficient operating model could enable low customer acquisition costs, and banking capital leverage (unavailable to non-bank lenders or fintechs) to enable £1 deposited to support up to £8 in lending.
The opportunity
If Enzo obtains its banking licence, management targets profitability within 2-3 years of authorisation and a lending book of £800 million after three years – not guaranteed. Enzo aims to launch as a bank in 2028: you should form your own view.
To help fund its formal licence application process (an estimated 18-24 month timeline), build out its platform technology, recruit key hires and commission financial models from KPMG, Enzo is seeking to raise £10 million in seed round, at a £50 million pre-money valuation. EIS is not applicable.
£9.5 million has already been committed:
- £5 million from lead investor Rippon Capital – the fintech investment firm founded by Paul Rippon
- £2.5 million personal commitment from the founders
- £2 million from additional private investors
- £500k from Haatch Ventures (the co-investor in this offer) – this includes a £250k allocation for WealthClub investors and a £125k investment from the British Business Bank.
Wealth Club investors can invest at the same valuation – the minimum investment is £20,000 and you can apply online. Based on the Company’s forecasts, the target return for this round is 10x after 5-7 years – high risk and not guaranteed.
Rippon Capital has also committed £20 million launch capital, at a valuation of £100 million, subject to the Company obtaining a banking licence – not guaranteed.
As can be expected when investing early stage, the potential rewards could be significant, but so are the risks. You should form your own view.
Important: The information on this website is for experienced investors. It is not advice nor a research or personal recommendation to invest. If you’re unsure, please seek advice. Investments are for the long term. They are high risk and illiquid and can fall as well as rise in value, so you could get back less than you invest.
The deal at a glance
| Type | Private offer (non-EIS) |
| Stage | Seed |
| Date started trading | Planning to launch in 2028, subject to obtaining banking licence |
| Funding to date | £9.5 million committed |
| Notable current and previous investors | Rippon Capital, founders, Haatch, angel investors |
| Fully diluted pre-money valuation | £50 million |
| Business / revenue model |
Banking revenue (e.g. interest margin, fees and commissions) |
| Revenue to date | n/a |
| Forecast EBITDA positive* | 2-3 years after authorisation |
* Forecast and not guaranteed.
Note: the Company is currently pre-revenue. Capital is at risk: you could lose your investment.
Risks – important
This is a single company offer with no diversification. It involves investing in an early-stage, loss-making business, which is by nature high risk and prone to failure. There is a risk that the capital raised may not be sufficient to achieve the Company’s objectives. You could lose all the amount you invest.
Like all investments available through Wealth Club, it is only for experienced investors happy to make their own investment decisions without advice.
There is no ready market for unlisted shares: they are illiquid and hard to sell and value. There will need to be an exit for you to receive a realised return on your investment.
This private offer is not EIS-qualifying so it is not eligible for tax relief.
Before you invest, please carefully read the Information Memorandum which contains further details on the considerable risks – alongside the Wealth Club Risks and Commitments.
Structure and fees
Investors will invest in Hey Enzo Limited. The investment is not EIS-qualifying. However, it is made available via the Haatch EIS fund, an Alternative Investment Fund, and thus the fund documents will be for the EIS fund. The fund is managed by Haatch Ventures LLP, whilst Apex Unitas Limited (Mainspring) will act as the custodian and administrator.
Wealth Club Limited is the introducer of this offer. The investment is not EIS-qualifying.
Wealth Club investors will invest at the same price and on the same terms as the other investors in this round.
All the services Wealth Club and, where applicable, its subsidiaries provide are governed by the Terms and Conditions of the Wealth Club Services.
Fees
A set-up and management fee of 6% will be payable to Haatch. This fee will be deducted from your subscription. There is also a fee of 4%, charged to the company.
Haatch will also receive a performance fee on returns over £1 per £1 invested: 25% on proceeds between 1x and 5x, 30% on proceeds over 5x.
Haatch will share these fees 50/50 with Wealth Club. This will not involve any additional costs to investors.
The fees and charges above are stated exclusive of VAT, which applies in some cases, as determined by the manager. Please check the VAT position carefully in the offer documents.
This financial promotion has been communicated and approved by Wealth Club Ltd on 16 July 2026
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.