Online art investment platform Feral Horses has surpassed its initial ?100,000 target for its Seedrs crowdfunding campaign.
So far, the company has pulled in up to ?109,278 from at least 138 investors, according to the campaign page. This funding is being raised at a pre-money valuation of ?1.8m, and Feral Horses has offered 5.26 per cent of its equity to backers.
The London-based company enables retail investors to invest in art by purchasing and trading shares of artwork on its digital platform. On the company primary market a user can browse artwork sourced from European artists and Gallerists where they can decide to invest or not.
Once an artwork has sold its minimum target of shares it is put on the secondary market where users can trade or sell their stakes. Feral Horses manage the artwork, including insurance and transportation, paying rent to the shareholders of the pieces.
There has been string of FinTech companies to raiser crowdfunding campaigns. Last week, Finland-based online marketplace developer Sharetribe moved past its initial ?500,000 goal, while mobile restaurant ordering and payment system Waitrr closing its sale past its initial target.
Last year, North America received the largest share of funding in the retail investing and trading sub-sector of WealthTech, according to data by FinTech Global. The region bagged 56 per cent of the total $468m that was invested globally.
Copyright ? 2018 FinTech Global