By Daniel Lanyon on 10th July 2018
The start-up, app-only firm, now has several hundreds investors backing its share dealing service.
Disruptive share dealing app dabbl has secured its initial £350,000 Seedrs crowdfunding target and is now nearing £600,000, meaning it is more than 60 per cent overfunded, with commitments from more than 200 investors.
With an existing user base, dabbl aims to break down the barriers to entry when it comes buying and selling shares as a retail investor. It has a few unique features such as, describing itself as like Shazam for investing, you can take a picture of a product or brand, then you can buy shares in the company that owns it.
"The app is jargon free and easy to use, underlining the message that anyone should be able to be a self-directed investor. Costs have also been significantly reduced, making even small investments worthwhile,” the firm said in a release.
Mark Ackred, founder and CEO of dabbl, says the funding round was helped by a ‘conservative’ valuation.
“We are delighted by the response so many investors of all sizes have given this project. To have overfunded so quickly is especially reassuring, underlining both the conservative valuation we have applied to the business and also the fact investors appreciate supporting a product that already has clients on board placing transactions,” he said.
The firm launched its crowdfunding campaign to pre-registered investors on July 3rd, ahead of a public launch on July 6th.
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.