UK challenger Ziglu opens crowdfunding round to public

By Megha Bhattacharya

UK challenger Ziglu announced the opening of their crowdfunding round to the public today. The FCA-authorised e-money institution aims to raise £1 million in a bid to expand its technology and product development teams, speed up growth and strengthen its market position. Till date, the challenger has already raised £300,000.

Mark Hipperson, Ziglu Founder and Chief Executive Officer said, “It is important to us that our customers have a chance to be part of Ziglu, not just as account holders but as owners. We have had significant interest from professional investors but we want to give everyone the opportunity to come on our journey with us!”

Ziglu’s Chief Growth Officer, Yang Li, added, “Crowdfunding is a chance for us to thank the Ziglu community, experiencing our growth through ownership. With £10 as the minimum investment we want to make sure that this opportunity is open and accessible to everyone – the same approach we take to crypto.”

Previously, Ziglu launched peer-to-peer payments for all currencies across its app. P2P payments allow the transfer of funds between two parties, enabling Ziglu customers to instantly send or receive any currency from any contact within the challenger’s community. The company recently became a full FCA authorised Electronic Money Institution.

The challenger also launched an insurance programme for customers holding cryptocurrencies. Each customer’s cryptocurrency holdings are insured against cybercrime up to a value of £50,000 at all times and held in a segregated account.