Assetz Capital has smashed its target by 50 per cent, after initially seeking a minimum of £1m new investment on crowdfunding platform Seedrs, at a valuation of £50m.
This is the second time the platform has offered equity to retail investors, after its 2015 campaign raised £3.1m and later became the second largest campaign ever hosted on Seedrs.
The current fundraising effort provides investors in that first round a 72 per cent uplift in share price valuation. Assetz has said that they plan to use the funds to continue its expansion through sales and marketing investment, after moving into new offices at Manchester Green earlier this month.
“We have grown 300 per cent per annum since April 2013 to become the second largest peer-to-peer business lender in Europe, but we have plenty more to achieve,” said Stuart Law, CEO at Assetz Capital. “This latest Seedrs round will give us additional firepower to accelerate our growth plans.”
The news comes as Assetz announced a “seven figure pre-tax profit” from April to September this year, while profitability continues to elude many in the peer-to-peer space.
The round is set to close on November 27th, with over 700 people already having invested in this latest campaign.
The platform’s records indicate that it has now lent just shy of £373 million to UK businesses to date, while investors have earned total gross interest of over £30m.
