Chip raises £11.5m in a Series A crowdfunding campaign on Crowdcube.
The digital savings platform secured the funding from thousands of backers to support product development and European expansion.
Chip is a digital savings and investments platform based in London. It provides automated savings tools alongside investment features for mobile users.
Chip has secured £11.5m in a Series A follow on crowdfunding campaign hosted on Crowdcube, drawing participation from nearly 13,000 investors. The raise marks a record for the platform, reaching its initial milestones within minutes and expanding the company shareholder base significantly.
The capital infusion follows a period of rapid expansion that saw revenues multiply and the user base grow past 400,000. Chip intends to direct the proceeds toward marketing efforts, product enhancement, and scaling its team ahead of European expansion.
From the founder
"We’ve been blown away by the response to our latest crowdfunding campaign. This is a huge validation of the strong position Chip is in, and our ambitions to build the next fintech unicorn."
Simon Rabin
CEO and Founder at Chip
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
- 03Grow the team
- 04Expand into international markets
Investors
Categories
About the company
Chip
Chip provides digital savings and automated investment services.