UK-based money app Ziglu has seen its £1 million crowdfund oversubscribed in just 81 minutes, beating its previous record of three hours, on Seedrs, the leading equity crowdfunding platform.
Ziglu’s previous crowdfund on the Seedrs platform in September 2020 also had a target of £1 million but raised more than £6 million, and was oversubscribed within three hours. With more than 1,200 individual investors it ranked as Seedrs’ largest equity raise in 2020.
The second round launched on Monday 27th September in conjunction with a major Series A fundraise with venture capital firms will help drive the continued rapid expansion of the fintech, which offers account and card services and simple access to leading cryptocurrencies.
Ziglu, which was created by Mark Hipperson, a founder of Starling Bank, has seen exceptional growth this year with its customer base quadrupling over the course of 2021.
Research for Ziglu shows that almost one in 10 (9%) of adults in the UK currently own cryptocurrencies, with this forecast to double within 12 months; highlighting how the sector is becoming mainstream. This maturity is reinforced by investors’ response to the recent price changes in crypto assets, with the study finding that nearly half (48%) of crypto investors either held on to their investments or bought more.
Mark Hipperson, Founder and CEO of Ziglu said: “The speed at which our latest crowdfund has been oversubscribed underlines the progress Ziglu has made in the last year and the fact that, as a leading regulated crypto and neo-banking fintech, we are leveraging our advantage in the increasingly mainstream crypto environment. We would also like individual investors to benefit from our success, as well as institutional investors, which is why crowdfunding is important to us.”
Ziglu offers customers access to Bitcoin, Bitcoin Cash, Cardano, Chainlink, Dogecoin, Ether, Litecoin, Polkadot, Solano and Tezos. Ziglu is regulated by the Financial Conduct Authority, is fully authorised as an Electronic Money Institution, and is also one of the world’s first cryptocurrency platforms to comply with the Anti Money Laundering and Counter Terrorist Financing standards set by Financial Action Task Force (FATF), implemented in over 200 jurisdictions. As with any investment, capital is at risk.