Oval Money, an App that seeks to provide money management services to European users, is raising capital on Seedrs. The offering is in overfunding mode as it has already topped its £1 million goal of selling an equity stake of 2.05% at a pre-money valuation of £47 million.
The offering is unique in the fact that Oval Money is also partnering with Seedrs in another manner. Oval users will now be able to register, and become authorized, to invest directly into active offerings on the Seedrs site directly via the Oval Money App.
“Our vision for Seedrs is to be a part of the wider fintech ecosystem, allowing investors to access this exciting asset class from anywhere, whether that’s their bank or their favourite fintech app. APIs like this one will play a crucial role in the integration of private marketplaces into more mainstream channels,” explain Ricardo Brizido, Chief Technology Officer at Seedrs, on a blog post last week.
Seedrs views the new channel as providing access to a new asset class to a far wider audience. Oval Money users will now have the option to seamlessly invest in early-stage firms alongside more traditional offerings.
Benedetta Arese Lucini, CEO and co-founder of Oval, said they are always looking for ways to expand their marketplace opportunities:
“ Offering our users the opportunity to invest in private equity is exactly the type of innovation we are continually striving to do, and we’re looking forward to seeing how our partnership with Seedrs develops after our raise as we continue to innovate on accessible and inclusive opportunities for our users.”
As public markets have slowed, and private markets have boomed, providing investment options into younger firms has risen in its attraction. Many studies show that a highly diversified portfolio of qualified young firms generates superior risk-adjusted returns for investors.
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