Shoppiday nabs up to £331k in its crowdfunding campaign

Online commerce platform Shoppiday has raised up to £331,910 in its crowdfunding campaign, so far.

The target for the sale, which is being held on Crowdcube, is set at £450,000 and is being raised at a pre-money valuation of £1.4m. At the time of writing, the company had raised capital from 48 investors for the distribution of 23.68 per cent equity. Shoppiday’s campaign will be active for another 25 days.

A group of unnamed existing backers in Shoppiday kicked off the campaign with a combined investment of £330,130.

Spain-based Shoppiday let consumers earn cash back through a percentage of their spending at both online and local stores. The company was founded last year and has helped 20,000 transactions for 18,000 registered users, according to the company. Alongside this, the company has partnered with 650 online stores and 900 merchants.

Shoppers on the Shoppiday platform choose from a selection of brands and are then transferred through to their own e-commerce platform to buy products they want. Upon completing the transaction, consumers earn money straight to their bank account or use it as funds to make more purchases on the website.

With the capital from the campaign, Shoppiday will develop its platform, invest in marketing and expand internationally.

Fellow Spain-based FinTech startup LoanBook closed its own crowdfunding campaign earlier in the year. The P2P marketplace lending company secured £737,000 from 297 investors at a pre-money valuation of £10.5m.

Last year, Spain’s FinTech sector was dominated by the data and analytics sector, with it pulling in 57 per cent of the $185m that was invested.

Copyright © 2018 FinTech Global

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