Nutmeg raises £2.5m 'in a few hours' through crowdfunding platform

Aimed to raise £1m

Sophie King
clock • 1 min read

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...

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