Zero commission trading App Investa has doubled its funding goal on Crowdcube. Initially, the funding target was set at £300.000 but as to today according to the offering page, Investa stands at £668,000 or 22% of target. In a release, Investa stated that funding actually topped £700,000.
Previously, Investa is said to have raised over £1 million in a private offering.
The securities offering was for equity in the startup at a pre-money valuation of £6 million. The offering is EIS qualified and almost 500 investors have backed the firm since the offering went live.
It is important to note that the Crowdcube listing is part of a wider round, in which Investa secured £230,000 off-platform in an investment prior to the Crowdcube round. The securities sale was on the same terms and is included in the funding total.
While this funding round is currently closed, the offering page appears to indicate that Investa will return at a later date to raise more growth capital from investors in an online securities offering.
Investa was founded by ex-Citi Options brokers who leveraged their experience to build a platform that is said to “put the investor first.” Investa will enable both stock and options trading.
Investa states that only 2% of UK investors have traded an option compared to 20% in the US. Today, American investors frequently use options to either hedge, generate additional income or simply to speculate. Options can provide a relatively streamlined method to leverage option contracts to drive increased gains. Options can also be utilized to create a cocktail of strategies for more sophisticated investors.
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