Crowd2Fund launches £30m fundraise
By Jordan WilliamsCrowd2Fund has started a £30m fundraise by inviting its platform investors to take part in an initial £1m offering
Section: mobile apps categories
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.
Keywords: Bridging finance, commercial finance, crowdfunding, business funding, business investment, Crowd2Fund, fundraising, crowdfund, specialist finance, Tranch, fintech, Chris Hancock
Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/crowd2fund-launches-pound-30m-fundraise