OFF3R to raise up to £5m to become investment sector’s Moneysupermarket
OFF3R has launched a fresh fundraising round and beefed up its advisory board ahead of expanding its product range, as it looks to become “the Moneysupermarket of the investment sector”.
The platform, which started life as an alternative finance aggregator, is now looking to broaden its offering of investment opportunities, asset classes and providers.
“We’re going for almost anything under the sun,” chief executive Lex Deak told Peer2Peer Finance News.
“Equity crowdfunding, corporate bonds, gilts, robo-advice, wealth management…we’re aiming to become the Moneysupermarket, Expedia or Rightmove of the investment sector.”
Alternative finance – including peer-to-peer lending investment opportunities – will remain a key component of the platform, Deak confirmed.
“We started in alternative finance and what we’re trying to do is under that banner, so we will always have a loyalty to alternative finance,” he said.
“The choice will broaden but we still want to be a home for P2P and alternatives, which will grow as that industry grows.”
OFF3R is looking to raise between £2.5m and £5m to accelerate its plans for growth. Deak said that they are initially focusing on sophisticated and high-net-worth investors, with a minimum investment of £250,000.
He added that he is considering opening up part of the fundraising to smaller investors through crowdfunding, depending on the response over the next two days.
Read more: Join the crowd: P2P aggregators
Meanwhile, Ian Ewart has joined OFF3R’s advisory board to support its expansion plans, having previously held marketing roles at Coutts, Bank of America, Barclays Wealth and HSBC Private Banking.
“He’s a mastermind of marketing financial services,” said Deak. “His black book of contacts is second to none.”