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Chip preps £10m crowdfunding campaign

Chip preps £10m crowdfunding campaign

UK smart savings app Chip says 25,000 people have pre-registered for its upcoming Crowdcube campaign, which aims to raise £10 million.

The campaign, which will start later this week, will see any funds raised matched by the Future Fund government initiative.

The funding will be used to build on Chip's 250,000-strong user-base and revenue model and to "continue ongoing discussions with VCs from a position of strength".

Simon Rabin, CEO, Chip, says: "We believe the most powerful way for a business to grow is to have thousands of investors advocating something they believe in.

"Our investor community has helped us get where we are now in more ways than simply investing, so we want to offer them the chance to maintain or improve their stake in our company and share in our success going forward."

The startup recently unveiled plans to offer interest-bearing accounts to customers, with all money bundled into a single shared trust account.
 
Originally published by
Finextra | September 8, 2020
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Love Business EXPO 2021

  • Description:

    Love Business EXPO 2021
    https://www.lovebusinessexpo.co.uk/

    A business to business networking exhibition with a difference. It brings business and personal development opportunities together. If you are a business owner, manager or thinking of starting a business - and you need answers, inspiration or just to see what’s happening in your area - Love Business EXPO 2021 is for…

  • Created by: Kathy Jones
  • Tags: love business, loughborough, uk, networking, expo