Ziglu, the personal money app, has successfully closed its crowdfunding campaign, having raised over €6.6 million from over 1250 investors.
Ziglu aimed to raise around €1.1 million but hit this target within 3 hours of the campaign opening, and with this very high investor demand Ziglu went on to raise 500% more than their initial target. The campaign, the largest Seedrs equity raise of 2020, was more than five times oversubscribed.
The investment will go to fund the 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, added: “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.”
As an innovator in the fintech space, 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 around 2.2 million. This means that the research and development Ziglu is completing as a result of the funding will be the key driver of growth and income for years to come.
John Lake, Chief Commercial Officer at Seedrs, said “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, 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 seamlessly in one app. The cryptocurrency platform gives everyone easy access to digital currencies including Bitcoin, Bitcoin Cash, Ether, Litecoin and XRP. Increasing financial inclusion by providing greater accessibility and control across all currencies with instant and secure digital money management.