Investing app dabbl sees more than 500 investors join crowdfunding campaign
dabbl, the UK’s first app-only share buying service, has seen over 500 investors join the company’s crowdfunding round.
Collectively, the investors have committed more than £725k, reflecting a significant overfunding from the original £350k target.
dabbl launched its crowdfunding campaign to pre-registered investors on July 3rd, followed by a public launch on July 6th. Investment in dabbl is eligible for EIS tax relief and the round is expected to close in early August to preserve long term value for existing shareholders.
The London-based tech firm said it was “built for breaking down the barriers to entry when it comes to individuals buying and selling shares. Costs have also been significantly reduced, making even small investments worthwhile.”
Mark Ackred, founder and CEO of dabbl, commented: “It’s great to see such enthusiasm amongst the crowdfunding community in their support of dabbl.
“We were in a position to close the funding round early, but believe it’s important to allow as many individuals as possible to own a share of this revolutionary business.
“The additional funds will be used to accelerate our product development, including the launch of spare change investing and functionality to bring investors even closer to the brands they love.”
Research has shown that audiences feel alienated by jargon-filled marketing campaigns they assume are designed to target wealthy male investors.
With 58% of UK millennials considering starting an investment portfolio, but only 4% having done so, this app addresses a target market of millions in the UK alone.
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