TruRating surpasses its £1.8m crowdfunding target

TruRating, a platform enabling consumers to leave merchant feedback at a POS terminal, has surpassed its £1.8m crowdfunding target.

The campaign, which is being raised via the Seedrs platform, has raised just over £1.8m from contributions from 306 investors. In total, there has been 2.23 per cent of TruRating’s equity to be deployed to investors during the crowdfund.

This sale has been raised at a pre-money valuation of £79.2m.

Investors that were involved in the in the initial £1.2m of the sale will received C shares. These hold anti-dilution rights on a down round. The remaining investors shall receive B shares.

Proceeds from the crowdfund will be put towards supporting technological partnerships with more global payment providers and creating additional services for customers.

London-based TruRating integrates with in-store and online payment solutions and enables merchants to ask a feedback question of consumers at the point-of-sale. The company has teamed with payment service providers, acquiring banks and payment hardware developers to build its solution.

Through this service, businesses are able to generate customer insights to help tailor experiences to them and increase sales.

This crowdfunding campaign comes shortly after TruRating raised £7.5m in traditional funding from institutional funds, family offices and private individuals, spanning the UK, USA and Asia.

TruRating CEO and founder Georgina Nelson said, “I love the philosophy of crowdfunding – opening up direct investment opportunities to everyone, removing the barriers to investing by making it simple, easy and affordable.

“I’ve always thought there are parallels between the crowd funding platforms and what we are doing at TruRating.  Disrupting and democratising an industry and making it truly accessible.  What Seedrs and others are doing for investment, we are doing for customer experience. It feels like an alignment of vision and so we are thrilled to open up some of our funding round to the public, for everyone.”

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