Nude, the financial advice service for first-time homebuyers, has reached its crowdfunding campaign target, raising £3.5m on the Seedrs platform.
The FinTech, which raised a little over its initial target, pulled in the capital from 806 investors. Investors to the round will receive a convertible which entitles them to a 30% valuation discount during subsequent funding rounds.
One of the investors was Future Fund, which was designed by the UK government and delivered by the British Business Bank to offer convertible loans to innovative UK companies.
It is not clear how much of the capital the firm deployed for the round, but it could be around half of the total raised.
In July, FinTech Global reported the FinTech had raised £3.3m for the crowdfund, with investments coming from 344 individuals.
Headquartered in Glasgow, Nude is a mobile app that shows first-time homebuyers the length of time until they can buy a house, breaking it down by location, property type and how much they can save. Insights are given on spending to increase savings and how to get saving boosters such as government support.
Prior to the crowdfunding, the company has raised £1.7m in 2019 and a £400,000 grant from Scottish Enterprise.
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