A pair of peer-to-peer sites came together in a funding operation yesterday which underlines the growing clout of the alternative finance sector.
Lending site Assetz raised £3m through equity fundraising site Seedrs. It takes the total raised by debt crowdfunders on Seedrs to more than £4.5m.
The debt firm had planned to raise £2m on the site, but raised an extra 50 per cent on strong demand from investors.
“Seedrs’ size and reach were important factors, but so was its focus on helping investee companies grow while protecting investor rights,” said Assetz’ chief executive Stuart Law. “We were thrilled with the outcome of our campaign and fully understand why Seedrs is the equity platform that other crowdfunding and peer-to-peer lending platforms choose.”
The only larger deal on the site to date was Chapel Down Group’s £3.9m fundraising last year.
Other lenders who have raised funds on Seedrs include LandBay and Trillion Fund, who have raised more than £500,000 each, and CrowdLords which raised £150,000 last year.