New Fintech Stoa Turns UK Savings Into Netflix, ChatGPT and Flights

Stoa, a new UK fintech startup, today announced the launch of Stoa Pots, giving consumers a fresh choice for their savings. Instead of meagre interest rates that rarely beat inflation, Stoa turns savings into free subscriptions and one-off perks – rewards people actually want and need.

UK savers are sitting on more than £614 billion in spare cash, according to new Barclays research reported by the Financial Times. That figure has grown by a third since 2022, highlighting how many consumers prefer to keep money in cash rather than invest – whether due to risk, lack of knowledge, inertia, or fear of the future driven by inflation and recession. Around 15 million adults now hold excess cash, underscoring the lack of innovation and choice in the current system.

The UK savings market is vast but outdated. In 2024, deposits in savings accounts exceeded £2 trillion, with the average saver holding £17,365. Yet most options available to the everyday UK savers are still limited to traditional savings accounts, ISAs or fixed-term products – delivering modest returns that are often taxed.

A healthier alternative

“BNPL makes you buy things you don’t need with the money you don’t have,” said Mike Saraswat, Co-Founder and CEO of Stoa. “Stoa is the opposite. Our message is simple: you save, we pay. By turning savings into instant lifestyle rewards – from FT and Third Space to private club memberships and NordVPN – we’re making financial discipline feel as good as spending, but without the debt hangover.”

How does Stoa work?

It’s simple: when you deposit* into a Stoa Pot™, rather than earn interest – you unlock instant rewards. These can be subscriptions you love (like Netflix, Spotify or Strava) or one-off perks you need (like Apple devices, flights, Amazon vouchers or Waitrose shopping). Every time you save, you immediately get something back that fits your lifestyle – making saving as satisfying as spending.

A third destination for money

“For years, UK consumers have only had two destinations for their money: spend it, or invest it,” said Sam Goodenough, Co-Founder and CTO of Stoa.“But not everyone wants to invest, and spending -often fuelled by overconsumption — can create regret. Stoa creates a third destination: a place where savings are safe, measurable and instantly rewarding.”

Stoa Platform: middle technology layer

Stoa is fundamentally a smart platform which sits as the middle technology layer in the savings ecosystem, working with banks, building societies, merchants and end customers. By connecting deposits directly to rewards, Stoa enables financial institutions to engage customers in new ways and merchants to acquire and retain them more effectively.

“As rates and consumer behaviour evolve, cash management needs to evolve too,” said Guy Pantall, Head of Financial Product Architecture at Stoa, “The challenge is to make cash work harder without pushing people into investments they don’t want or debt they can’t afford. Stoa creates innovative ways for consumers and institutions alike to turn cash into real value — instantly and responsibly.”