TECHNOLOGY
Crowdfunding is one of those options that can help fintech startups get off the ground quickly while still offering the option to distribute shares or not . It ' s essentially a way for companies to raise money from a large number of people , typically through small donations . Crowdfunding is still relatively young as an industry , but that ' s not stopping many fintech companies from taking advantage of it .
Ziglu - ( Total Raised : c £ 12m ) The Ziglu app , which was developed by Mark Hipperson , a co-founder of Starling Bank , is regulated by the UK ' s Financial Conduct Authority ( FCA ) and aims to bring digital-only banking and cryptocurrencies to the masses . They offer a simple way of transferring money and buying digital assets like Bitcoin and Ethereum .
In September 2021 , Ziglu ’ s crowdfunding campaign for £ 1m was oversubscribed on Seedrs , and within a month , they raised more than £ 6.33m . “ Never underestimate the passion and strength of your customer . While market research and analysts can tell you what they think , it ’ s only our customers who truly know what they want and what they expect from us .” said Mark Hipperson , Founder and CEO at Ziglu .
“ CROWDFUNDING GIVES YOU MORE FREEDOM AND FLEXIBILITY REGARDING THE USE OF THE FUNDS , WHEREAS VCS TEND TO BE MORE RESTRICTIVE ”
BRIANA MARBURY EXECUTIVE DIRECTOR AT THE INTER- LEDGER FOUNDATION
As the fintech industry continues to evolve , more and more startups are leveraging crowdfunding platforms to accelerate their growth . In total , Ziglu has received £ 12 million in funding from two crowdfunding efforts , the first of which took place in 2020 and the second in 2021 .
Lend-Grow / Konduit Works - ( Total Raised : c £ 740k ) Konduit Works , which was known as Lend- Grow at the time of their crowdfunding , ran a campaign in the fourth quarter of 2021 and raised around £ 740k . They were featured on Angels and Entrepreneurs , a platform that connects startups with investors .
The team previously worked at big banks Capital One and Pentagon Federal Credit Union ( PenFed ). They decided to start a