Commuters miss out on huge discounts because they can't afford the upfront cost of an annual travelcard / Oli Scarff/Getty Images

CommuterClub allows users to get the discounts of an annual travelcard, but without the huge upfront cost

Even though London's commuters are set to get hit in the pocket by yet another fare rise in 2016, a start-up in the capital is making it cheaper and easier for you to get to work.

CommuterClub, founded by finance workers Petko Plachkov and Imran Gulamhuseinwala, gives commuters access to the savings of an annual ticket without the huge upfront cost.

£400 million

The total annual discount London's commuters are missing out on by not using annual travelcards

Working with Abellio Greater Anglia, CommuterClub allows you to pay for an annual ticket in monthly installments.

Rather than painfully parting with £1,844 at once for an annual zone 1-4 travelcard, CommuterClub lets you pay monthly. And by paying 11 monthly instalments of £177 at 5.6 per cent interest, you're paying the same amount as you would for a regular monthly travelcard, with a month of free travel thrown in for good measure.

Better yet, it allows commuters to get one over on TfL - even though you're paying monthly, CommuterClub members are still exempted from the four per cent fare rise in January 2016.

Customers are also allowed to cancel at any time, with no penalty or notice period involved.

London's commuters miss out on £400 million of savings every year, simply because they can't afford the expense of an annual travelcard. Even without next year's fare rise, London already has the most expensive public transport in the world, when compared to other major global cities.

It's no wonder that transport startups like CommuterClub and Uber, who are currently trialling a new carpool service, are striking a chord with the city's Tube-riders.