Get Nude: Offering on Seedrs for Home Purchasing App Goes Public after Raising £3.3 Million in Private Segment, Plans to Apply for Bank License

Nude, a home savings app, quickly raised about 96% of its securities offering goal during the private stage of the listing on Seedrs. According to the company, it raised 96% of its £3.5 million target during the private phase of the campaign over the weekend. The offering is now live and available on Seedrs to everyone.

Investors receive a convertible with a 30% valuation discount during a future priced funding round. As it stands right now, Nude has received the backing of 267 individual investors. Nude has been approved for match funding under the Future Fund,

The first value proposition from Nude is to help young people purchase their first home. According to the offering page:

“We help people save their money and in return, we take a share of the interest earned on those savings. Then, once we’ve helped our users save their deposit in record time – we’ll earn fees by offering them the mortgage that’s best for them.”

Nude generates revenue via:

  • A share of interest from user savings
  • Marketplace – we can assist our customers in other areas and earn commissions and fees.
  • Platform as a service – licence parts of our proprietary platform.
  • Expansion – our business model is scalable across socio-economic demographics and geographies.

Nude previously raised £1.7 million in growth capital in 2019 and was a recipient of a an innovation grant from Scottish Enterprise.

One of the most interesting aspects of the offering is the company’s intent on applying for a bank license and to jump into the realm of digital banking – a hot sector of Fintech that now has many different firms challenging incumbent banks as well as other banking startups.


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