WiseAlpha, a UK online lending platform that gives everyday investors access to high yield institutional bond and loan investments, is set to close its equity crowdfunding campaign on Crowdcube with more than £1.1 million secured from nearly 1,000 investors.
As previously reported, WiseAlpha’s online lending platform aims to give retail investors and corporates access to senior secured and high yield bond investments – with yields ranging from 5-15% pa1- that were previously only available to pensions funds, funds, investment banks and ultra high net worth individuals. WiseAlpha raised £579,150 during its first Crowdcube campaign in July 2016. The platform now has more than 1,550 registered users and also launched more than 25 different senior secured loans and high yield bonds in market leading UK companies such as Virgin Media, The AA and Pizza Express paying out more than £100,000 in income to investors. In February 2017 WiseAlpha also secured £400,000 from its platform investors to launch its WiseAlpha Investment bond.
In a recent update, WiseAlpha shared its excitement for the campaign’s 1 million surpassed milestone and revealed new bond plans:
“We’re pleased to announce that we’ve smashed through the £1m barrier on our equity raise. Thanks to brilliant support from our platform investors and Crowdcube members we have significantly exceeded our target. In other news we’ve added new bonds from Kirs and tomorrow afternoon we’ll launch Ocado and Centreparcs’ new bonds. Look out for the zero fees offer on Ocado to celebrate the success of our equity round. Next week we’ll be adding more Together 10.5% bonds, some of our past favourites and a couple of new additions to the platform (TBD).”
WiseAlpha notably indicated that funding will be utilized to expand into Europe, as a way to “defying Brexit gloom.” Funding will also be used to enhance the company’s product offering, adding further automation to its online platform and boosting digital marketing for user growth.The initiative is set to close later this evening.
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