Assetz Capital is launching a fresh equity funding round on Seedrs, as it heads closer towards a potential stock market float.
The peer-to-peer lending platform said the Seedrs fundraise will be a “top up” to the money it raised from the government’s future fund.
The future fund is a scheme which offered government funding to high-growth and innovative businesses in the form of convertible loan agreements, on condition of equal match funding from private investors. The conversion means that the government will become a shareholder in Assetz Capital.
“This particular funding round is being opened up to all investors to provide you with the chance to participate in a recent equity investment that will convert our 2020 Future Fund/ Seedrs convertible loan funding round into equity,” Assetz Capital said in an emailed update to investors.
“This new round on Seedrs lets investors buy equity in Assetz Capital as a top-up to that conversion event. It will also help support our mission to connect investors with businesses to address challenges in society and achieve fairer growth for all.
“This round has moved our share price up from £2.35 a share to £3.15 a share and is another step forwards to a potential initial public offering and larger funding round at that time.”
Assetz Capital has invited investors to pre-register via the Seedrs platform, so they will be emailed when the campaign goes live.
For those considering investing over £20,000, Assetz Capital has suggested they may prefer to be a direct investor, rather than investing via the Seedrs nominee account on the Seedrs website which may result in additional fees.
In October 2020, Assetz Capital announced that it had raised £1.5m through a Seedrs funding round and the government’s future fund.
The platform has been vocal about its plans to go public. Assetz Capital told Peer2Peer Finance News earlier this year that it plans to launch an IPO within the next three years.
However, it may be a challenging time to embark on a public listing. It recently emerged that former P2P consumer lender Zopa has delayed its plans for a stock market flotation because of market conditions.