InvestEngine raises £1.9m via Crowdcube to fund product expansion.
The fintech surpassed its target with backing from over 1,000 investors to support the rollout of new products including pensions and savings plans.
InvestEngine operates an exchange-traded fund investment platform offering commission-free portfolio management for individuals and small businesses. The firm provides access to hundreds of funds alongside managed portfolios.
InvestEngine has secured £1.9m in its second crowdfunding campaign hosted on Crowdcube. The raise exceeded its initial £1.3m target within the first 24 hours and attracted contributions from over one thousand backers.
The capital will support the firm as it expands its product offering to include savings plans, workplace investing, and self-invested personal pensions. This follows a period of expansion that saw the platform quadruple its active users and triple client assets under administration.
The business intends to use the proceeds to deepen its position as an exchange-traded fund distributor, working alongside asset managers such as BlackRock, Invesco and Vanguard.
From the founder
"The global market for ETFs has experienced phenomenal momentum in the last five years. And our second successful crowdfunding round only proves there's widespread belief that this market will continue to boom."
Andrey Dobrynin
Co-Founder at InvestEngine
Use of funds
- 01Continue product development
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About the company
InvestEngine
InvestEngine provides a commission-free investment platform specialising in exchange-traded funds.