Financial Services Platform T8 Secures £3.3M+ via Seedrs

T8, a financial services and lifestyle platform built for the global mass affluent, has raised  237% (£3,322,350) of its £1,400,000 target (with 3 days left in the sale, at the time of writing) from 238 investors via its crowdfunding campaign, carried out through Seedrs.

Located in London, United Kingdom, T8 operates in the Finance & Payments (Digital Mixed B2B/B2C) sectors.  Incorporated in October 2020, the firm reports a Valuation (pre-money) of £20.8M; Type Equity; Equity offered: 13.77%; a share price of £0.61; Tax relief N/A.

Business highlights are:

  • Custom-built banking platform scalable to millions of customers
  • Rapid growth with 50K+ downloads since MVP launch in Feb 22
  • Founded by 2 seasoned tech and financial services entrepreneurs
  • Raised £8m investment since Nov 2020

Key features are as follows: Secondary Market; Seedrs nominee min. £12.26 +; Direct investment min. £25,000.00 +.

As noted in the update, T8 is “a payments, investment, and lifestyle platform built for the global mass-affluent consumer.”

Over 500 million people are “underserved by their primary bank, don’t qualify for a private bank account, and require multiple providers to meet their needs.” T8 solves for this on their own innovative platform that “allows access from the palm of your hand via our app.”

The firm added:

“Our mission is to support customers throughout their financial journey. From saving for a child’s overseas education, to making international payments from your home country to abroad, or to simply diversifying your savings, T8 is your partner.”

On their platform, customers can “open a European payments accounts, transfer money internationally, or invest their savings across a number of our wealth management partners.”

In addition, they aim “to enrich our members’ lives 24 hours a day, 365 days a year, via our concierge offering, allowing customers to book priority reservations at the world’s most exclusive restaurants, to luxury travel planning, though to VIP tickets for sold-out events.”

The business is “focused on B2B partnerships to drive customer growth and lower customer acquisition cost.”

As explained by the firm, T8 is designed “to combine multiple revenue streams through our diverse offering of services and customer partners.” They are currently revenue generating “via [their] concierge offering with revenue share on purchases made via the concierge.”

They also plan to create revenue via the following strategies:

  • Monthly subscription fees (currently waived in this launch period)
  • Stock trading via users’ Saxo accounts
  • Revenue share on customer purchases via our lifestyle partners
  • Funds & ETFs sale charges and trailers fees (where authorised)
  • FX market competitive fees
  • Premium tiered monthly subscriptions
  • Card rebate (interchange and international withdrawal)
  • Mortgage referral fees
  • Insurance product distribution fees

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