The crowdfunding campaign drew participation from over 1,700 investors including Pierre Lagrange.
"We’re all about making it as easy as possible to put a big chunk of cash back in people’s pockets and want to make Snoop the most valuable app on everyone’s phone. We’ve made great strides since we launched in April and we’re thrilled with the support from customers in the crowdfund. We will now accelerate development of the platform, broaden our smart money-saving services and continue to scale the business."
The fintech firm raised the capital via an equity token offering to support product development and the rollout of its Wealth Card.
"Banks are and have always been so conservative, and they don’t mix with technology as they should. We are developing and merging cutting edge technology to provide the next generation of banking for people. A single platform where your money is always invested and working for you, while being instantly accessible for your daily needs."
The funding round was led by Atomico with participation from Lux Capital, Obvious Ventures, Kindred Capital and Inovia Capital.
"To add a fund of Atomico’s calibre and reputation to our investor base is a huge win for LabGenius. Atomico’s operational experience is second to none and they are the perfect partner to help us scale a global company from Europe. In addition, the confidence that Lux, Obvious, Kindred and Inovia have demonstrated in doubling down in this round reflects the tremendous technical progress that the team has made over the past 12 months."
Bled by BHL Holdings, the fresh capital will be used to double the UK workforce and invest in proprietary technology.
"The current pandemic has hit small businesses a lot harder than their larger, established counterparts. The economy is experiencing significant turbulence right now and the business landscape will be unrecognisable in a year's time. As a small business championing small businesses, this investment will speed up our ability to deliver bespoke insurance to underpin individual business needs. Helping businesses to not only weather this storm, but scale and thrive."