Emma, a company that’s on a mission to be the control center for your money, has secured £1,889,342 from 2,588 Investors (at the time of writing) via Crowdcube.
Backed by Connect Ventures and other leading VCs, Emma had a £1,000,000 fundraising target. Emma reports a £34 million pre-money valuation, a 5.26% equity, and a £1.75 share price.
The company’s management notes that they’re targeting 1 million customers by the end of 2021.
As noted by Emma:
“A generation faces unprecedented financial challenges with an increased complexity of digital spending and exploding choices in financial products. Emma wants to help people take control of their money and help them make the right financial decisions. Since our 2018 launch, we’ve seen incredible growth, with over 600k customers, 500% YoY average growth and we’ve analyzed £100bn+ worth of customer transactions.”
In 2019, Emma launched its business operations in the US and Canada. The company is currently working hard “to bring Emma all over Europe.”
As noted in the update, Emma has helped hundreds of thousands of people “reduce debt, improve their relationship with money and save up for the things that matter to them.” However, the Fintech firm says it now wants to do even more than that.
Emma aims to onboard 1 million clients by the end of the year and also plans to “roll out an exciting set of new features.”
The company notes that free stock trading, crypto, payments and credit scores are just “some of the features [they] plan to release next, with the aim to make Emma the control centre of your money.”
During the past three years, the team at Emma has established a Fintech brand to watch, “executed at a fast pace and built tons of features.”
The company is now crowdfunding “to continue our growth and execute on our product roadmap.”
Some of the key highlights of this initiative are as follows:
- 600,000+ customers, c.500% growth year-on-year
- £2.5m raised from the same VCs as Curve, Transferwise and CityMapper
- Have reached #2 top grossing finance app in on both Google Play and App Store
- £100bn+ worth of user transactions analyzed to date
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