Crowd2Fund

Crowd2Fund launches £30m fundraise




Crowd2Fund has started a £30m fundraise by inviting its platform investors to take part in an initial £1m offering.

This was overfunded to £1.5m, resulting in more shares being issued.

The initial raise has taken total investment in the company to £4m since it launched in 2014. 

The technology-led, FCA-regulated finance company is now inviting investors to take part in an £8.5m equity tranche.

The tranche will be used to grow its UK market share, as well as to set-up operations in USA and south-east Asia.

The company aims to close the next tranche before the end of this tax year.

Chris Hancock, founder and CEO of Crowd2Fund, said: “The banking ecosystem is undergoing transformation and innovation like never before; what we have seen so far is only the beginning. 

“We are planning to exit the company in 2022, with revenues of £34m and a valuation of at least £1bn. 

“In order to reach this target, Crowd2Fund would only need to capture 7.2% of the UK market, excluding international activity.”

Crowd2Fund expects that the final £20m of the £30m raise will be completed in January 2019.

The company plans to generate revenues of £11m by 2019, followed by a company sale to a large financial institution or flotation before 2022.

 

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