Ziglu closes crowdfunding campaign; FinTech raises £6 million
By Edil Corneille
London-based personal money app – Ziglu, has successfully closed its crowdfunding campaign, having raised over £6 million from over 1,250 investors.
The aim of the company was to raise £1 million and it hit this target within 3 hours of the campaign opening. With the high investor demand, Ziglu went on to raise 500 per cent more than its initial target. The average investment amount was £4,800.
The campaign, said to be the largest Seedrs equity raise of 2020, was more than five times oversubscribed, and the company has now raised £11 million during 2020 including its initial seed funding round.
The investment will be utilised to fund technology and product development teams, international expansion and meet the growing demand for Ziglu’s personal money app.
Ziglu’s Chief Growth Officer, Yang Li apprised, “ We wanted to give our customers the opportunity to be a true part of Ziglu through ownership. We have been overwhelmed by support for the crowdfunding round, resulting in Ziglu becoming the largest equity campaign on Seedrs this year. Our vision for financial inclusion and community support translates through all our initiatives whether it’s crowdfunding, charitable giving or personal finance – providing fair and equal access to everyone – the same approach we take to crypto.”
Ziglu has been classified as a Knowledge Intensive Company (KIC) by HMRC, enabling KIC investors to claim tax relief on investments up to the value of £2 million.
John Lake, Chief Commercial Officer at Seedrs enunciated, “Ziglu is an exciting fintech platform that is changing the way we handle digital and traditional currency – something we’ve not really seen before. The passion, ambition and legacy of Mark and the Ziglu team is fuelling the company’s growth as a global challenger in the fintech space. We are thrilled to see how engaged Seedrs investors have been with Ziglu’s campaign.”
The firm recently celebrated the launch of its limited edition power pink Mastercard debit card by enabling Ziglu customers to support their community through FareShare, said to be the UK’s largest charity fighting hunger, with a donation every time they use their card at a supermarket.
Ziglu offers an account for the digital age, with traditional and digital currencies managed in a single app. The cryptocurrency platform gives everyone easy access to digital currencies including Bitcoin, Bitcoin Cash, Ether, Litecoin and XRP.
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