InvestEngine "smashes" second crowdfunding round

Exchange-Traded Fund (ETF) investment platform InvestEngine’s second crowdfunding round closed with the fintech raising over £1.94m, significantly surpassing its £1.25m target.

InvestEngine entered overfunding early, beating its target within the first 24 hours of the round being open. Upon closure, funds have been amassed from 1134 different investors.

The money raised will aid the fintech in becoming the ETF distributor of choice for the world’s leading ETF providers, leveraging the global reach of asset managers including BlackRock, Invesco and Vanguard.  

It will also support InvestEngine as it moves into exciting new areas this year - including savings plans, workplace investing, and self-invested personal pensions - enabling more people in the UK to utilise ETFs and the diversification and reliability they offer, as a means of growing their wealth and reaching their long-term financial goals.  

The round comes after InvestEngine’s first successful crowdfunding campaign last year, and strong subsequent growth. In April 2022, InvestEngine’s first Crowdcube campaign welcomed 1,120 investors and closed in just 7 days, raising £1.3m.

The success of InvestEngine’s fundraising is testament to the opportunity in ETF investing, with global ETF assets soaring past $10trn in 2021 and forecast to grow 17 per cent annually in 2026. Last year saw a $1.5trn gap in the flow of money from old-school Mutual Funds in favour of ETFs. 

Andrey Dobrynin, co-founder of InvestEngine said: “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.

“For us as a company, this round’s success will support us as we continue our mission to bring the benefits of ETFs and our platform to more people, offering great value, excellent diversification, and simple but powerful investing automation. 

“We’re looking forward to another strong year of growth as we expand into exciting new areas and products that meet the needs of new and experienced investors alike, making investing more accessible, and helping people to take greater control of their long-term financial goals.”

By Mark Adair – Correspondent, Bdaily

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