Just days after launching its latest equity crowdfunding campaign on Seedrs, UK-based investment services Smarterly has successfully secured its initial £2 million funding target. The new funding round comes just a little over six months after Smarterly raised £1,638,150 through its previous Seedrs campaign.
As previously reported, Smarterly is on a mission to turn the UK into a nation of investors, by promoting the benefits of healthy savings habits through employers. The company further explained:
“We make investing simple, easy and accessible for the mass market – aiming to make buying a Smarterly ISA just as easy as buying a product from Amazon. Employers promote Smarterly as an employee benefit, to help their staff build healthy saving habits with the convenience of saving directly from their pay, often with a contribution boost from the employer as a more accessible complement to pensions.”
Smarterly currency has more than 50 corporate clients (e.g. Morgan Stanley, Samsung, OVO Energy, Rolls Royce Engineering) with access to an estimated 100,000+ employees. The company now has a pipeline of another 150 organizations who between them it estimates employment of over 1 million people.
Smarterly is now offering 10.68% in equity at a £16,723,855 pre-money valuation. In regards to what the funds from the latest Seedrs campaign will be used for, the company added:
“We’ve spent the last year building our team, investing in sales, marketing and product enhancements. We’re now 16 employees plus NEDs & Advisers. We’ve got a great team with extensive business and sector experience. We think big but act small, keeping tight control over cashflow and being agile in order to seize opportunities. We expect this funding round will cover overhead for the next 12 to 18 months allowing us to further prove the business model ahead of an intended institutional fund raise late 2020 / early 2021.”
The campaign is set to close later this fall.
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