BYP Network, an empowerment platform dedicated to black professionals, is set to close its equity crowdfunding campaign on Seedrs with more than £800,000 secured. The funding round was launched last month and has attracted over 1100 Seedrs investors.
As previously reported, BYP Network was founded after a culmination of Black Lives Matter movement and Kike Oniwinde’s (founder of BYP Network) personal experiences. The platform claims it is described by many as the “LinkedIn for black professionals” that helps to connect ambitious future leaders with each other for networking purposes and with corporations for job opportunities.
“Unlike anything seen before, we tackle the whole journey from grassroots to senior managers by providing a growth pipeline that focuses on mentorship, peer collaborations and career development. We also offer events, recruitment and social outreach.”
BYP Network also was created to ‘change the black narrative’ by bringing the black professional global community together to solve problems through economic empowerment and connectivity. In regards to what the funds from the Seedrs round will be used for, BYP Network added:
“With the money raised, we’ll be scaling our leadership, sales, and content teams in order to better serve our community. The funds will also be spent on improving our current tech stack and cementing our place as the number one go-to platform for all things black professionals. With tens of millions of black professionals online and over $200bn spending in the recruitment market. The potential for BYP Network to grow is undeniable and we want you to invest in order to be part of this growth.”
BYP Network is currently offering 5.88% in equity at a £8,008,412 pre-money valuation. The campaign is set to close this weekend.
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