On Wednesday, investment crowdfunding platform Crowd of Angels announced the launch of its new growth funding round. The website is seeking a minimum of £196,000 (max £700,000) as it prepares to expand.
Crowd for Angels reported it has helped to raise over £1.1 million for small growing companies since launch in December 2014. It has recently been pre-approved by HMRC to be an Innovative Finance ISA manager.
“At Crowd for Angels, our goal is to bring innovative and appealing products and provide funding for companies through their growth cycle. We support public and private UK companies through all stages from seed to pre-ipo and when listed. We do this through equity funding under SEIS, EIS and debt funding through our convertible loans, loan with warrants and loans.”
Tony De Nazareth, CEO and Founder of Crowd for Angels stated:
“Over the past two years we have developed a sophisticated crowdfunding platform and proven our business model. We are now looking to raise funds in order to accelerate growth and take the business to the next level. While crowdfunding as a whole continues to grow rapidly, we see particularly good growth opportunities in the IF-ISA market in the coming years. With £160 billion of funds in the UK earning the same or less than the Bank of England base rate we expect huge interest in this new product from investors seeking higher returns.”
Funds from the funding round will be used for marketing, employees and the development of new innovative products. Those looking to invest can do so, starting at £27. The campaign is set to close at the end of August.
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