Brilliant Bills is looking to raise up to £350k in crowdfunding campaign

UK-based Brilliant Bills, which provides personal and household financial support app, is looking to raise up to £350,000 in a crowdfunding campaign.

The crowdsale, which is currently live through the Seedrs platform, is being raised at a pre-money valuation of £1.8m. At the time of writing the company has raised £62,694, through the the contributions of 42 investors.

There is 16 per cent of Brilliant Bills’ equity being offered for the sale, this is likely to increase if the campaign goes beyond its initial goal.

The crowdfund has been verified for the enterprise investment scheme (EIS), which is an initiative designed to give small companies tax relief on new shares. However, this EIS support is only available for the first £150,000 to be raised.

As a result, the company is currently seeking approval for the seed enterprise investment scheme (SEIS), which will also provide tax relief for the investors and company.

Brilliant Bills is a mobile app designed to simplify the finance management for individuals and households. The solution provides a single location to monitor, share and settle all bills and financial documents.

Aa user can use the phone’s camera to scan a document or upload screenshots of bills, the app will also make suggestions of where money can be saved.

Earlier in the week, Gobbill and Cointree partnered to support household bill payments through cryptocurrency.

Copyright © 2018 FinTech Global

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