FCA authorized e-Money Institution Ziglu kicked off a crowdfunding round on Seedrs today and quickly topped its £1 million goal. The offering is live for up to 40 more days.
According to the offering page, Ziglu is selling equity in the company at a pre-money valuation of £45.2 million. The Fintech’s seed round raised £5.25 million. The private portion of the current offering raised £300,000.
Ziglu was founded by former Starling Bank CTO Mark Hipperson who is CEO of the company. The company claims to be one of the few Fintechs to have built its own cloud banking platform. Ziglu launched in June 2020 and users may make peer-to-peer payments across all currencies, both digital and traditional, and make payments to any UK account.
Ziglu notes that 100% of customers’ total digital assets are insured against cyber-attacks, up to the value of £50,000, and fiat currencies are safeguarded in a segregated account. Ziglu reports that it was one of the first companies to be regulated by the 5th Money Laundering Directive for crypto assets.
Hipperson said it is important that their customers have a chance to be part of Ziglu, not just as account holders but as owners.
“We have had significant interest from professional investors but we want to give everyone the opportunity to come on our journey with us!”
Ziglu’s Chief Growth Officer, Yang Li, added that “crowdfunding is a chance for us to thank the Ziglu community.”
The offering page explains that Ziglu is “not a bank” but “better.”
“Bringing the challenger bank experience to digital currency and bringing digital currency to traditional banking services.”
Ziglu anticipates rolling out a series of new features and services in 2021 including subscription-based premium offerings.
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