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Peer2Peer Finance News | July 21, 2019

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Abundance hits £1.2m crowdfunding target

Abundance hits £1.2m crowdfunding target
Marc Shoffman

ABUNDANCE has hit its £1.2m crowdfunding target just 13 days after it was made available to the wider public.

The ethical crowd bonds platform had already raised more than half of its target through a private Seedrs fundraise for existing investors and as of Tuesday morning the project was 103 per cent funded.

Abundance has said it will use funds raised to expand its investment team, increase its marketing, and invest in technology.

Read more: Abundance’s Bruce Davis welcomes Green Taskforce Report

The crowdfunding campaign has been backed by 766 investors so far, with the largest pledge from a new shareholder at £35,000.

“We are very pleased to welcome more than 750 new shareholders who have put their hard cash behind delivering the next stage of Abundance mission,” Bruce Davis, co-founder of Abundance, said.

“We achieved £75m of projects funded with just 75 angels, so after what has been a frankly intense and emotional process we are ready to achieve much more with 750 plus shareholders backing us.”

Abundance is one of a number of P2P lenders that are raising money via equity crowdfunding platforms.

Buy-to-let P2P platform LandlordInvest is seeking £300,000 on Crowdcube and has raised almost 40 per cent of its target with 16 days left of the campaign.