Quilam Capital led the debt financing alongside the UK Government Future Fund and high net worth backers.
"Over the years we’ve seen innovators making use of open banking, shed light on financial health and provide credit, however Updraft provides a truly unique offering across all of these aspects with a market leading solution to give customers the fairly priced credit they deserve. We’re delighted to invest in Updraft and support the business on their mission to give consumers the tools to save and reach their life goals faster."
Sovereign Capital Partners has acquired a significant minority stake in the digital transformation specialist.
"We have come a long way since we set up our business just five years ago. This is an exciting market and we have achieved fast yet solid growth without compromise to the quality of our offering."
The company secured the capital from over 1250 investors via the Seedrs platform.
"We wanted to give our customers the opportunity to be a true part of Ziglu through ownership. We have been overwhelmed by support for the crowdfunding round, resulting in Ziglu becoming the largest equity campaign on Seedrs this year. Our vision for financial inclusion and community support translates through all our initiatives whether it’s crowdfunding, charitable giving or personal finance – providing fair and equal access to everyone – the same approach we take to crypto."
The round was led by RLC Ventures with participation from Plug and Play Ventures and Playfair Capital.
"As online channels present real earning opportunities, we move into an era where the vast proportion of us undertake jobs to fulfill our creative passions. The rise of platforms like Twitch, YouTube and Instagram have already started enabling these roles, but this is just the beginning."
