Ziglu secures £7m in landslide crowdfund

UK-based banking and crypto app Ziglu has raised £7.19m and subsequently closed its crowdfund campaign on Seedrs early.

The crowdfunding campaign was run in conjunction with a major Series A fundraise with venture capital firms.

Ziglu, which offers banking services, foreign exchange, and access to cryptocurrencies, originally set out to raise £1m but was oversubscribed in 81 minutes when it launched on 27th Monday September.

Strong demand from investors, Ziglu said, saw the campaign extended. However, the company then closed it early after reaching £7.19m, making it the largest equity raise on Seedrs in 2021 and marked Ziglu beating its own record of more than £6m in 2020.

Shares were priced at £48.30 – up from £34 in its previous crowdfund – with Ziglu raising the funds at a pre-money valuation of £85m.

Created by Mark Hipperson, a founder of Starling Bank, Ziglu has quadrupled its customer base over the course of 2021. It has also recently launched a fee-free euro account for tourists and business travellers as the first part of its expansion into foreign exchange.

Ziglu offers customers access to a curated range of crypto currencies: bitcoin, bitcoin cash, cardano, chainlink, dogecoin, ether, litecoin, polkadot, solano and tezos. Ziglu is regulated by the Financial Conduct Authority and is fully authorised as an Electronic Money Institution.

Mark Hipperson, founder and CEO of Ziglu said, “We look forward to delivering for investors who took part in the crowdfund as we continue to drive the growth of the business as the leading regulated crypto and neo-banking fintech in the UK and beyond.”

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