Update: Nutmeg Surpasses £4 Million Days After Crowdcube Debut

Less than a week after launching its equity crowdfunding campaign on Crowdcube, UK fintech Nutmeg has successfully secured more than £4 million from nearly 2,000 investors. The funding round originally sought to raise £1 million, with Nutmeg offering 1.59% equity at a £251 million pre-money valuation.

As previously reported, Nutmeg claims to be the UK’s first online “discretionary investment management company.” The fintech already manages more than £1.7 billion for over 70,000 customers. It also offers three investment styles (including socially responsible) through an ISA, a Lifetime ISA, a pension and a general investment account.

“Our risk-adjusted, multi-asset, globally diversified portfolios are managed by experts. We keep our day-to-day costs low with proprietary technology and smart trading of exchange-traded funds (ETFs), with a low fee to boost compound returns. Our strategy has regularly delivered investment performance above industry averages.”

Nutmeg also crowdfunding effort plans earlier this spring, with Martin Stead, CEO of Nutmeg, stating at the time that he and his team are looking to invest in new features for the Nutmeg customers, while also taking the company to new markets around the globe. 

“This is an incredibly exciting time for Nutmeg, we continue to welcome new customers: both seasoned investors seeking a high-quality wealth management service at a much lower cost; and first-timers, attracted by intuitive technology and a team of investment experts that will manage their portfolios for them.”

Luke Lang, Co-Founder of Crowdcube, shared at the same time:

 “Nutmeg is a business with a deep sense of purpose – they’re tackling everyday problems and challenges that will resonate with many of our investors. It remains our mission to help nurture the growth of innovative businesses and we’ve no doubt the campaign will be a real success.”

The funding round is currently set to close mid-July

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