New Look Founder & Various Angels Invest in UK Crowdfunding Aggregator OFF3R

OFF3R, a mobile crowdfunding aggregator, announced on Monday it is eyeing a major expansion after receiving a £480,000 investment from various investors including New Look founder Tom Singh, super-angel Daniel McPherson, Earlymarket and Head of Marketing from Rocket Internet-backed Jumia.

lex deakLex Deak, the founder of OFF3R, stated:

“We are very excited as this investment will help us establish OFF3R as a leading player in the alternative finance market, providing a world-class user experience across mobile and web platforms. We want to make it an even more powerful and useable tool, helping the investor community to discover and invest in companies from a broad range of sources.”

Since its launched in June 2015, OFF3R has had over 500,000 interactions with 2 million deal alerts sent to investors in 75 countries. During its beta phase, the app has driven over 50,000 requests for more deal info from 35 partner platforms such a Crowdcube, Seedrs and Zopa.

Patrick WillsPatrick Wills of Earlymarket, noted:

“There is a clearly a need for aggregation in the crowdfunding space and we are very impressed by how far OFF3R have come at this early stage – we think of them as the Rightmove of seed capital. With our experience in hedge funds and high net worth investors, we hope to leverage our network to further broaden OFF3R’s investor database.”

OFF3R’s plan to use the investment to become the leading marketplace and community for alternative investments, this includes a major update to the mobile product, a web interface and free data portal for the community.

Deak then revealed:

“To have backing from such a high calibre of investors will not only help us grow the platform, but allow us to attract the best talent and establish OFF3R as a leading brand in the broader alternative investment space. Our aim is to build the plumbing that increases the flow of capital to entrepreneurs around the world.”

A team from international law firm, Wragge Lawrence Graham & Co (WLG), advised OFF3R. WLG’s Mark Knight, an associate in the firm’s corporate team and who led negotiations, added:

deal handshake“This is the first transaction we’ve advised OFF3R on and we’re very pleased to have supported them on such a significant move in their development, particularly within this competitive space. OFF3R is an exciting company to be working with and we’re looking forward to providing our ongoing support to them in the future.”

 


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