Prosper, a leading WealthTech platform, has closed its crowdfunding campaign, surpassing its initial targets to secure over £1m.
This amount adds to the £3.2m previously raised from a noteworthy group of investors, including Tom Blomfield, co-founder of Monzo, and Matt Cooper, co-founder of Capital One, along with numerous esteemed FinTech angels.
The amount raised, standing at a striking £1.02m, was a remarkable 170% over its initial target of £600,000, which was achieved in a mere four hours. This achievement is particularly noteworthy as it involved the participation of approximately 400 investors, who contributed an average of £2.5k each. These investors hail from diverse locations, including New Zealand, Malaysia, and Australia, showcasing Prosper’s global appeal, despite it currently being a UK-focused business.
Prosper, founded by FinTech entrepreneurs Ricky Knox, Nick Perrett, and Phil Bungey, is revolutionising the WealthTech industry. The company’s primary mission is to enhance its members’ potential wealth. It achieves this by offering highly competitive cash interest rates, zero-fee index funds, and access to private market investments that promise higher returns. This approach is a bold move to disrupt the conventional high-fee culture prevalent in the wealth management industry.
Nick Perrett, CEO and founder of Prosper, expressed his excitement and gratitude for the overwhelming support received. “Having launched the company only last month, to get such amazing momentum and a fantastic set of new shareholders is a true endorsement. We can now deliver on our mission of maximising the potential wealth of our members from a position of strength.”
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