European peer-to-peer lending platform EstateGuru has raised €1.3m (£1.1m) from 971 investors in a Seedrs fundraising campaign.
The platform launched the campaign in private mode to pre-registered investors on 5 May and raised the initial minimum target of €500,000 within hours.
Then the public part of the campaign reached the initial intended maximum target of €1.1m by 9 May and the platform closed the campaign on 14 May having raised a total of €1.3m.
The campaign was originally set to run for 40 days.
EstateGuru said it plans to use the funds raised to launch in two new markets, develop an API-powered investment app and integrate its platform with other market participants.
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“We expected positive investor interest and realistically hoped that we would reach our maximum target ahead of schedule, but the overwhelming response to the campaign took even us by surprise,” said Marek Pärtel, co-founder and chief executive of EstateGuru.
“To reach our maximum target in just four days of a 40-day campaign is a proud moment and shows that our business model and growth plans have struck a chord with investors who share our optimism about the alternative finance industry.
“Now, of course, we have to reward that investor faith by taking the company to new heights and delivering on our roadmap of success.
“The key focus for the rest of this year will be on securing institutional investors, broadening our technological solutions, and maintaining or exceeding our historical growth pace.
“We have plans to launch in two new markets, develop an API-powered investment app and integrate other market participants in our platform.”
This is the company’s second fundraising round on Seedrs, having exceeded its first funding target of €350,000 by 261 per cent in June 2020.
The platform used the funds from that round to launch its operations in Finland and Germany, put in place a capital markets team in Amsterdam, integrate the Lemonway payment service platform and implement the next phase of automated lead generation.