Digital wealth management firm and so-called 'robo-adviser' Nutmeg raised more than £2.5m in one afternoon after its crowdfunding effort opened to its customers.
Nutmeg said the crowdfund reached 250% of its target in "just a few hours" after launching on Thursday afternoon, raising £1.5m more than it initially planned to. The money raised means more than 1% of the company's ownership has now been earmarkered for more than 1,000 crowd investors. Nutmeg and equity crowdfunding platform Crowdcube said they had made "sufficient capital" available to keep the fund-raising open for a limited period in order to allow more of the crowd to participate. Working in conjunction with Crowdcube, Nutmeg revealed plans to "democratise company ownership" with...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
