Following Angel Round, Prosper Lists Securities Offer on Crowdcube

Prosper, a UK Wealthtech that aims to improve investment offerings for the mass affluent has opened up a funding round on Crowdcube.

In a release, Prosper CEO Nick Perrett stated:

“It’s time that the people who help you with your money are motivated to keep more in your pocket, not theirs. For too long, fees have been too high and hidden, with language and technology unengaging and antiquated. In today’s world, I should not be being sent one piece of paper a year to understand what’s been going on with my money. Consumers deserve much better: better service, better technology, and better prices. We aim to disrupt this industry and give those benefits back to our members.”

“Early Access” is now available on Crowdcube, where investors may indicate their level of interest in backing the firm. Deal terms are not yet public. Prosper said investors may participate in the securities offer starting at £118 and up to £500,000.

CI reported earlier this month that Prosper had raised  £3.2 million in Angel funding.

Prosper’s investors include some well-known names, including Monzo founder Tom Blomfield, Matt Cooper, co-founder of Capital One; Phil Bungey, former COO of robo advisor Nutmeg, and others.

Prosper outlined its proposition for its users:

• Prosper will be offering some of the highest cash interest rates in the market
• Prosper has already gone live with zero-cost index funds from major asset managers such as Vanguard, Blackrock and Fidelity. Prosper believes that certain assets have become near commodities and should hold no charges.
• Prosper said it will open up access to private market investments, initially for sophisticated, high-net-worth individuals.

Prosper is regulated and has already launched SIPP, ISA, and general investment accounts for its members.

The company says the funding round on Crowdcube gives customers the opportunity to join Prosper in changing the way wealth works.