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UK crypto-app Ziglu break 2020 crowdfunding record on Seedrs

  • Modern banking app Ziglu raises over £6 Million in 2020
  • Total of £11.1 Million raised to date from over 1,250 investors
  • Competition from Revolut, Square and PayPal emerging in this lucrative market

Ziglu Breaking Records

London-based cryptocurrency banking app Ziglu have broken the yearly record for equity raised on the crowdfunding platform Seedrs with a little over £6 Million.

As well as being a modern banking platform, Ziglu allows users through their app to exchange fiat currency into a suite of cryptocurrencies such as Bitcoin, Ethereum, XRP, Litecoin and Bitcoin Cash.

2020 has been an outstanding year for the London-based start-up. Former Starling Bank co-founder Mark Hipperson launched the platform in June with the ‘challenger bank’ modern finance ideology of transparency, inclusion and community growth.

Their initial crowdfunding target of £1 Million in September was achieved in a remarkable three days.

Chief Growth Officer Yang Li commented: “I am blown away by just the reception and the support we’ve gotten from the community about our crowdfunding campaign.”

Almost three months on and the company have secured the investment of around 1,250 investors with a total equity raised of £11.1 Million.

In the latter half of the year, the company achieved other notable successes such as an approved application for an FCA licence and the release of their first Mastercard-partnered debit card.

 

Growing Competition

Competition in this market has blossomed this year as the utility and accessibility of cryptocurrencies for the mainstream audience reaches all-time-highs. The likes of Revolut, Square and now PayPal have all entered mobile crypto-banking, offering users unparalleled access to this emerging asset class.

Wide-spread media coverage in response to bullish price action, especially Bitcoin’s rally to near-ATH’s – over the past few months has been a welcome growth opportunity for these companies and their services.

 

Additional Comments 

Chief Commercial Officer John Lake expresses his delight at the recent company successes: 

“Ziglu is an exciting fintech platform that is changing the way we handle digital and traditional currency – something we’ve not seen before. We are thrilled to see how engaged Seedrs investors have been with Ziglu’s campaign.”

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