IE still isn’t sure about the whole crypto currency thing, but plenty of investors are confident.
UK-based banking and crypto app Ziglu has raised a record £7.19 million and closed its crowdfund campaign early on leading crowdfunding platform Seedrs after a surge in investments. The success of the fundraising campaign, which was due to run until 12th November, marks the second year in a row that Ziglu has ranked as Seedrs largest equity raise.
The fintech, which offers banking services, foreign exchange, and safe, simple access to leading cryptocurrencies, originally set out to raise £1 million but was oversubscribed in 81 minutes when it launched on Monday 27th September. Strong demand from investors saw the campaign extended but Ziglu has closed it early after hitting £7.19 million, making it the largest equity raise on Seedrs in 2021 and beating its own record of more than £6 million in 2020 which was the biggest equity raise of 2020 at Seedrs.
Money raised from the crowdfunding campaign, which was run in conjunction with a major Series A fundraise with venture capital firms, will help drive continued expansion at Ziglu.
Shares were £34 in the 2020 campaign and now stand at £48.30, with just over five per cent of the company’s equity on offer. Shares were changing hands at up to £57.36 on the Seedrs secondary market in June this year, which was the busiest month of trading.
Ziglu, which was created by Mark Hipperson, a founder of Starling Bank, has achieved exceptional growth this year as it drives the mainstream adoption of cryptocurrencies, with its customer base quadrupling over the course of 2021. It has also recently launched a fee-free euro account for tourists and business travellers as the first part of its expansion into foreign exchange.
Mark Hipperson, Founder and CEO of Ziglu said: “The record £7.19 million raised by our latest crowdfund campaign reflects the confidence from investors in the services we offer and our plans for expansion.
“We look forward to delivering for investors who took part in the crowdfund as we continue to drive the growth of the business as the leading regulated crypto and neo-banking fintech in the UK and beyond.”
Ziglu offers customers access to a curated range of crypto currencies: Bitcoin, Bitcoin Cash, Cardano, Chainlink, Dogecoin, Ether, Litecoin, Polkadot, Solano and Tezos. As with any investment, capital is at risk. Ziglu is regulated by the Financial Conduct Authority, is fully authorised as an Electronic Money Institution, and is also one of the world’s first cryptocurrency platforms to comply with the Anti Money Laundering and Counter Terrorist Financing standards set by Financial Action Task Force (FATF), implemented in over 200 jurisdictions.