Ziglu crowdfunding raises a record £7m on Seedrs

By Joy Dumasia

UK-based banking and crypto app Ziglu has raised a record £7.19 million and closed its crowdfunding campaign early on leading crowdfunding platform Seedrs after a surge in investments. The fundraising campaign’s success, which was due to run until 12th November, marks the second year in a row that Ziglu has ranked as Seedrs largest equity raise.

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. Still, Ziglu has closed it early after hitting £7.19 million, making it the largest equity raise on Seedrs in 2021 and beating its record of more than £6 million in 2020, the biggest equity raise of 2020 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.

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.”

IBS Intelligence recently reported that Ziglu is launching a market-leading fee-free euro account that enables tourists and business travellers to spend without incurring currency exchange charges.