Assetz Capital, which specialises in lending to small business owners, have exceeded their target of raising £2m on crowdfunding platform Seedrs.
The peer-to-peer (P2P) lending platform, that has so far funded nearly £72m worth of loans to SMEs, raised £3,179,750 from 731 investors through equity investment crowdfunding firm Seedrs, in one of the UK’s largest crowdfunding rounds to date.
The money will be used to fund many different projects. Assetz’s workforce is expected to double in size, which in turn will allow the firm to focus on retail marketing and to create international ventures.
Assetz’s crowdfunding round seems to be the second largest on Seedrs to date. In first position is Kent-based wine maker Chapel Down Wines, who raised £3.9m in just three weeks.
Earlier this year, RBS named Assetz Capital, along with Funding Circle, as beneficiaries of a pilot scheme to refer small business customers turned down for loans by the bank to the peer-to-peer lender.
‘‘We chose Seedrs for our crowdfunding round because we know it to be the most professional and respected platform in the equity space. Its size and reach were important factors, but so was its focus on helping investee companies grow while protecting investor rights,’’ said Stuart Law, co-founder and chief executive of Assetz Capital.