Automotive tech firm Regit on track for successful £1.2m crowdfund
Automotive tech firm Regit has pulled in over 50% of its seven-figure crowdfunding target within 24 hours of launching on Crowdcube.
The Manchester-based company, formerly trading as Motoring.co.uk, is looking to secure £1.2m through the crowdfunding platform.
Once the full sum is raised, Regit will invest in marketing to grow its portfolio of 1.4m users to 6m.
Regit is a personalised ‘digital garage’ that enables users to buy, sell and maintain their cars through its online platform.
Advertising entrepreneur Sir John Hegarty, the man behind Audi’s ‘Vorsprung durch Technik’ slogan, is one of the investors backing Regit, having already supported the business with its rebrand.
Sir John said: “There are about 37 million cars in the UK. This market is increasingly being digitised. Because of this, Regit’s unique concierge service can help all those owners get better value of their investment. That’s worth investing in.”
Regit’s crowdfunding campaign will end on March 28, but bosses expect to hit the funding target well before deadline.
Regit CRO Chris Green commented: “We’ve launched a crowdfunding programme to ask for the investment we need to take Regit to new heights.
“After a successful relaunch, we’re now at the stage where further investment can help our already unique offering become an integral part of every motorist’s life.”
He continued: The funding will enable our consumer portfolio to multiply at least three fold, while that in turn will mean the quantity of insights which our service provides to the motor industry will be invaluable to ad agencies, OEMs and dealers alike, allowing us to grow further still.“
Bdaily spoke with the minds behind Regit last summer. Read the interview here.