Wombat Invest Now Seeks £250,000 on Crowdcube to Prepare For Fintech Platform Launch

Wombat Invest, a UK-based fintech platform, has launched an equity crowdfunding campaign on Crowdcube seeking £250,000 in funding. The platform, which is currently set to launch by April 2018, is being designed to allow users to invest in some of the world’s best-known brands for as little as £10 along with manage, save and grow their funds in themed Exchange Trade Funds (ETFs).

At Wombat our mission is to empower generations to manage, save and grow their money. Our goal is to break down barriers that prevent people from investing. Wombat will allow people to invest in some of the world’s best known brands for as little as £10.”

Wombat also noted that it will operate a subscription and percentage of assets based model. It also charges a 1 monthly fee to all customers, a platform fee of 0.45%, and a ETF provider fee of 0.25%. All funds from the Crowdcube round will be used to continue the fintech platform’s development. Wombat stated that a further £1-2 million pounds is to be raised within 12 months of operation to implement the second phase strategy. It also revealed a timeline of its product developments:

  • Year One: Build and market the product
  • Year Two: Offer new products, premium subscription, and expand into Europe
  • Year Three: Aim to launch new products and further grow internationally

The company also noted:

“Wombat aims to run a lean operating model and leverage on new technologies. Expansion into Europe will follow. The business model projects that recurring revenue, lifetime value (LTV) and monthly active users (MAU) will be high. More products are planned with the aim to further increase revenues, along with a premium subscription service.”

Since it launched, the campaign has successfully secured more than £135,000 from 170 investors. It is set to close at the beginning of February.

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