Propifi exceeds crowdfunding target

At the time of writing, over £260,000 had been raised by 345 investors.

Propifi – which aims to deliver returns of 8-12% for investors on its platform – launched the funding round earlier this month.

The platform will use the funding for FCA registration, web, app and platform development, legal costs and operational overheads for 12 months.

Euan McAlpine, chairman at Propifi, said: “We’ve seen a huge amount of interest from the investment community in the Propifi proposition over the last few weeks, from both first timers as well as sophisticated and experienced investors.

“Last week, we achieved 100% of our fundraising target, and we’re now overfunding which is truly exciting for our business.”