Wombat Invest, a UK-based investment app, has successfully secured its initial £250,000 equity crowdfunding target on funding portal, Seedrs. The company is currently offering 9.07% in equity through the funding round, at a £2.5 million pre-money valuation. The latest crowdfunding campaign comes less than two years after the company raised £210,000 from more than 490 investors on Crowdcube.
As previously reported, Wombat Invest allows investors to trade for free in firms that match their lifestyles, interests, and beliefs. The company’s mission is to empower generations to manage, save and grow their money as well as breaking down barriers that prevent people from investing. Users may choose from 16 themed funds, which include ‘The Social Media Guru,’ ‘The Foodie,’ and ‘The Green Machine.’ Investors may also auto-invest a certain amount each month and/or use a round-up function linked to a bank account.
“Wombat makes investing easy. Open a FREE account in minutes and get started with just £10. Choose from a range of carefully selected themed funds that includes companies such as Netflix, Google, Tesla, and Amazon.”
Wombat also noted that since launching in Summer 2019, the mobile app has attracted more than 5,000 users and has joined the Natwest Accelerator Fintech Program.
Funds from the Seedrs campaign will be used for the following:
- User acquisition: Wombat will continue to build our customer base and fulfill its growth strategy with a significant increase in marketing spend to drive customer growth.
- Product Development: Increased app development spend to cater for the following;
- Referral program to further drive customer growth and investment on the platform.
- Promo codes through marketing partnerships
- Instant Payments: Integration with Apple and Android pay.
- New Funds: Launching a range of additional themes in the Wombat portfolio.
- Customer Experience – Continue our mission to educate our customers about investing and grow our community of first-time investors.
The campaign is set to close at the end of March.
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