PRIVATE investor network Growthdeck has raised £3.5m in an oversubscribed funding round, with an aim to triple its customer base within the next four years.
The firm, which connects high-net-worth and sophisticated investors with tax-efficient and high-growth investment opportunities, said on Tuesday that the business is valued at £10m following the fundraise, which was its second funding round.
This is almost triple its valuation of £3.5m on its first fundraise in 2016.
The firm secured investment from a number of ultra-high-net-worth investors, as well as £800,000 from existing shareholders and management.
Growthdeck said it plans to use the funds raised to expand its deal team and hire additional relationship directors to service its international investor base.
It also said it will increase its marketing spend to expand its investor base from approximately 3,500 in 2018 to 10,000 within the next four years.
Growthdeck was founded by a number of City veterans including Gary Robins, formerly of private equity firm 3i; ex-banking digital strategist James Wrighton; and corporate financier Simon Emary.
It offers investors a range of opportunities including Enterprise Investment Scheme-eligible investments, loans and commercial property investments.
“Tripling our valuation within three years is a good reflection of the progress we’ve made in developing the business and our very healthy pipeline of deals,” Ian Zant-Boer, chief executive at Growthdeck.
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“We’ve already completed a number of successful fundraises through our platform and these businesses are developing well. Given this, we believe now is the time to expand our investor base.
“Our market-leading due diligence processes and strategy for delivering above-market returns for investors has been key in terms of successfully marketing ourselves during this fundraising round.”