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Peer2Peer Finance News | August 18, 2019

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Assetz Capital’s Seedrs fundraise is almost 50pc overfunded

Assetz Capital’s Seedrs fundraise is almost 50pc overfunded
Suzie Neuwirth

ASSETZ Capital has announced that its latest fundraising round on Seedrs is now almost 50 per cent overfunded and that it has set a closing date.

The secured business and property peer-to-peer lender was seeking £1m but investors on the crowdfunding platform have already pledged more than £1.47m, in return for 2.86 per cent equity.

Assetz said on Friday that it now intends on closing the fundraise by noon on Monday 27 November.

“We are extremely appreciative of the support shown for the fundraise so far, including from many of our existing customers,” it said.

Assetz recently relocated to a bigger head office in Manchester Green as it continues to grow its team. In October, the firm announced that it has recorded a “seven-figure pre-tax profit” in its latest half-year results.

From April to September 2017, more than £110m was lent through the platform, Assetz said.

“We have reported considerable growth and stability over the past four years, and now that profitably has been consistently achieved in parallel to that strong growth, we continue to go from strength to strength,” Stuart Law (pictured), chief executive of Assetz Capital, said at the time.

Several P2P lenders have raised money via Seedrs. Fellow property lender CrowdProperty said on Friday that it is looking to raise £600,000 through the platform to fund its expansion plans.

And buy-to-let specialist Landbay has launched a number of funding rounds on Seedrs.