BUX, crowdfunding on Seedrs now, raised more than €1.1 million from investors as it easily “smashed” the million pound barrier. The Amsterdam based company now stands at €1.3 million backed by more than 2000 investors from 34 different countries. With a pre-money valuation of €52.3 million, BUX is offering a 1.88% equity stake in the firm but it now stands in overfunding mode. The crowdfunding round is scheduled to close tomorrow (November 24th).
BUX is described as the “next generation trading app” that makes trading stocking super easy and very affordable. The crowdfunding round follows Bux’s €10.6 million Series C round in early October, led by Germany’s Holtzbrinck Ventures, a successful European VC. Velocity Capital supported the round along side a number of influential angel investors, including former Booking.com CMO Arthur Kosten and Thierry Schaap, co-founder of online brokerage firm BinckBank.
“We were delighted to reach our investment target within 24 hours of opening the round to the public, and are thrilled with the result of the total round,” commented BUX Founder & CEO Nick Bortot. “We’re overwhelmed by the interest we received and are excited to welcome the whole new team of investors, advocates, and hopefully users. We would like to say a huge thank you to the BUXsters and supporters who have recognised the potential of BUX; their dedication and support of the brand over the last three years is what has helped us get to where we are today. We continue to be committed to developing our products in order to improve and enhance their BUXster experience.”
The additional capital will be used to expand its product offering in order to offer a full suite of apps by 2020. BUX expects to offer a range of features from short term trading, to long-term investing.
Over the next year, BUX will start with a long term investment app and will launch a crypto app due to substantial user interest. BUX believes investing in cryptocurrencies remains cumbersome. It is BUX’s mission is to make intimidating aspects of investing easier, without taking on too much risk. Hopefully this will make crypto investing more mainstream.
BUX reports that the majority of investors were new to the Seedrs platform (1537). The largest contingent came from the Netherlands, BUX’s home turf.
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