Sector focus: Fintech

In 2017, over £1.3bn was invested into fintech startups in the UK, making it the biggest year in history for investment in this emerging sector.

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A thriving industry

Investors are betting that technology will fundamentally change finance just like it has other verticals, such as print media and advertising.

The stakes, however, are much higher. Companies like Monzo and Revolut, for example, are trying to take on established consumer banks...winning this battle would be worth tens of billions in the UK alone.

Competition in fintech is therefore intense. According to market research firm Beauhurst, alongside Monzo and Revolut there are now at least 20 other "challenger banks" in the UK alone.

Finding fintech investment can be tough

We've helped companies raise millions of investment in the fintech sector, particularly for consumer-focused businesses. Raising via Crowdcube allows these companies to involve their own customers as investors, and acquire new customers from Crowdcube's own investor base.

By building stronger relationships with a broad network of investors, fintech companies on Crowdcube can raise money quickly, but also increase their footprint and brand loyalty. They are able to do this without spending heavily on marketing: investors become brand ambassadors, and help spread the word to their personal networks. This is a key long-term driver for growth.

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Where are they now?

Discover what these entrepreneurs were able to accomplish following their crowdfunding campaigns.

Revolut

Growth Stage: £1,007,050 raised from 433 investors

When Revolut came to Crowdcube in 2016, one year after their launch, they had 200,000 users on their finance app, which enables customers to manage and move around money in multi-currencies with ease.

In just two years, the fintech firm now has eight times more users, and their valuation has increased from $58m to an incredible $1.7bn, making it Crowdcube’s second unicorn following BrewDog. Their users are spread across Europe, and it has a suite of new products, including the ability to buy, hold and sell cryptocurrencies within the Revolut app.

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Money Dashboard

Early Stage: £1,250,380 raised from 1,581 investors

Founded by Gavin Littlejohn, Money Dashboard was first released in 2010 with the goal of becoming a personal financial assistant for users. By the time they launched their crowdfunding campaign in July 2017 they had already acquired over 100k customers and had won the 2017 British Bank Award for best personal finance app. Since then they not only won the title for the second year running but also grew their user base by over 50%.

For Good Causes

Seed Raise: £292,220 raised from 211 investors

In 2017, For Good Causes raised nearly £300k to launch their platform to allow consumers to donate the value of their loyalty points, miles, or cashback to a charity of their choice. After just four months they have launched the platform and are already partnered with Quidco, the UK’s largest cashback services with over 7m members. They now hope that their platform will raise over £100m in the next five years for a range of charities

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