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Peer2Peer Finance News | September 18, 2019

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Abundance opens £1.2m crowdfunding round to wider public

Abundance opens £1.2m crowdfunding round to wider public
Marc Shoffman

ABUNDANCE has opened its £1.2m crowdfunding campaign to the wider public after reaching more than 50 per cent of its target in a private fundraising round on Seedrs.

The ethical investment peer-to-peer platform will use funds raised to expand its investment team, increase its marketing, and invest in technology.

More than 800 Abundance customers pre-registered earlier this month to back the campaign and £624,474 was raised as of Wednesday afternoon (24 October).

“We’re proud to have coined the phrase ‘democratic finance’ – and we firmly believe that capitalism works better when people are directly involved; as shareholders, debenture investors or employees,” Bruce Davis (pictured), co-founder and joint managing director of Abundance, said.

“With six years of steady growth, we’ve proved our investment model is delivering the social infrastructure the UK needs and is scalable. Now we’re working with Seedrs to invite people to join us as shareholders.

“Together we can build a bigger community of investors, funding bigger investments in green and social projects that have a bigger impact. Helping create a world of better investing.

“The early signs are that our customers are really enthusiastic about taking a stake in Abundance’s future, so we strongly advise people to invest now to ensure they don’t miss out on this opportunity.”

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

Read more: Ofgem rejection leaves Abundance debenture in limbo