Moneybrain investors have been given early access to an eMoneyHub Crowdcube campaign, after the parent company raised £1.2m using the future fund.
eMoneyHub, which owns peer-to-peer lending platform JustUs and personal finance comparison site Moneybrain, has raised £600,000 from private investors which was matched by £600,000 in convertible loan notes from the British Business Bank.
The future fund scheme is designed to support innovative and high-growth businesses during the pandemic.
eMoneyHub has now launched another funding round on equity crowdfunding platform Crowdcube, which it said is authorised by the British Business Bank to enable the JustUs growth plan.
Moneybrain has given its customers early access to the campaign, following a similar invite from JustUs to its investors in December. Investors can pledge as little as £10 each in an opportunity for the same eight per cent per annum returns alongside the future fund.
The aim of eMoneyHub’s funding round is to give the group the necessary additional resources to offer its services to a global audience, grow JustUs’s investor base and support the roll-out of its P2P owner-occupied mortgages, called the People’s Mortgage.
The People’s Mortgage offers investors the opportunity to fund 2.5 per cent fixed interest rate residential mortgages for homeowners, which are Innovative Finance ISA eligible.
“We’ve had the offer for the future fund money just before Christmas and just have lots of paperwork to sign off before we can close it,” said Lee Birkett (pictured), founder of JustUs.
“And we won’t be completing the Crowdcube campaign until the end of the month.
“We have about 1,800 users that have downloaded the Moneybrain app where people buy BiPS and that money joins the platform, so the people who bought BiPS have been invited early access to the Crowdcube campaign now too.”