The University of Oxford spinout secured £10.4m from backers including Parkwalk Advisors and Oxford Sciences Innovation to expand its presence in the insurance sector.
"There are some technologies that can change a small part of the insurance value chain, but there are no technology companies that can help insurers transform the entire insurance operation. Therefore, we had been seeking a reliable partner with first-class technology in order to jointly develop such solutions across the insurance value chain."
The Series A round was led by Haibun Partners with backing from Neil MacDougall to accelerate growth in virtual and hybrid event solutions.
"From seeing 75% of our sales vanish in the 10 weeks leading up to April, it’s amazing to think that we’re now in a better position than we were pre-COVID."
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."
