Two Poles, Paweł Oltuszyk – an IT specialist, and Edyta Śliwińska – a financier, came to the UK over ten years ago to improve their language skills. Their stay was extended thanks to the fact that they developed a couple of thriving businesses. Currently, they are working on the fintech Frost, which has a chance to change the current vision of saving money.

Before that, they ran a technology company providing marketing solutions for the legal sector. When a change in British law allowed non-lawyers to own law firms, in 2012, they rebranded as a law firm, now employing over 100 lawyers, and launched a company specializing in legal advice in the medical sector.

Income from these ventures made it possible to allocate more than £1 million to develop a new business independently. However, Frost is not just another mobile banking application, many of which are on the UK market. Its advantage is evidenced by the dynamically developed model of automated saving, which takes care of users’ wallets by searching for more good offers for services requiring recurring monthly fees. The application determines the providers of individual services based on the user’s address. It lists the best offers that can be used without any formalities and additional costs. At the same time, Frost is a licensed financial institution whose customers have accounts and pay with its cards. Thanks to this, it knows more about its finances and can offer better-suited saving methods.

So far, Frost has implemented the energy supplier switching module, but soon, this functionality will be extended to include telecommunications and insurance companies. Making mortgage refinancing as simple as possible will also be possible, saving customers up to £600 a year.

Based on the current financial situation, there are plans to launch the possibility of investing money in financial instruments in real time. The company secured additional funds for this purpose. Investors supported the company with £1.1 million in July 2022.

The company is also an independent issuer of Visa cards. The lack of intermediaries when issuing cards means that commissions from payments made with them go entirely to Frost’s account.

This year, the company wants to expand its activities to the EU and the rest of the world in the future.