Prosper secures £1m in pre-seed crowdfunding from approximately 400 investors.
The wealthtech platform closed its crowdfunding campaign after reaching its target within four hours.
Prosper is a wealthtech platform that provides high cash interest rates, zero-fee index funds, and access to private market investments. The company aims to remove traditional high fees from wealth management for its members.
Wealthtech platform Prosper has secured £1m in a pre-seed crowdfunding round, bringing its total capital raised to over £4.2m. The campaign surpassed its £600k target within four hours and finished 170 percent oversubscribed with participation from around 400 investors.
The fresh capital follows previous backing from prominent figures such as Monzo co-founder Tom Blomfield and Capital One co-founder Matt Cooper. The company intends to use the funds to further its mission of expanding member wealth through competitive interest rates and low-fee investment products.
Co-founded by fintech entrepreneurs Ricky Knox, Nick Perrett, and Phil Bungey, Prosper launched its platform shortly before securing this latest tranche of financing.
From the founder
"Having launched the company only last month, to get such amazing momentum and a fantastic set of new shareholders is a true endorsement,"
Nick Perrett
CEO at Prosper