Chip preps £10m crowdfunding campaign
UK smart savings app Chip says 25,000 people have pre-registered for its upcoming Crowdcube campaign, which aims to raise £10 million.
The campaign, which will start later this week, will see any funds raised matched by the Future Fund government initiative.
The funding will be used to build on Chip’s 250,000-strong user-base and revenue model and to “continue ongoing discussions with VCs from a position of strength”.
Simon Rabin, CEO, Chip, says: “We believe the most powerful way for a business to grow is to have thousands of investors advocating something they believe in.
“Our investor community has helped us get where we are now in more ways than simply investing, so we want to offer them the chance to maintain or improve their stake in our company and share in our success going forward.”
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