WealthTech innovator Prosper has successfully completed a crowdfunding campaign, surpassing its initial target to raise over £1m. This sum is an addition to the £3.2m previously gathered from prominent investors, including Monzo’s co-founder Tom Blomfield and Capital One’s co-founder Matt Cooper, amongst others. The campaign notably gained contributions from around 400 investors from diverse locations, including New Zealand, Malaysia, and Australia.
- Prosper raised a striking £1.02m, which was 170% over its initial target of £600,000, achieved in just four hours.
- The platform, founded by FinTech entrepreneurs Ricky Knox, Nick Perrett, and Phil Bungey, aims to enhance its members’ potential wealth through competitive cash interest rates, zero-fee index funds, and access to private market investments.
- Prosper’s initiative is seen as a game-changer in the WealthTech industry, aiming to disrupt the conventional high-fee culture prevalent in the wealth management industry.
To achieve its mission, Prosper utilises its wealth management software to offer competitive cash interest rates, zero-fee index funds, and, most notably, access to private market investments promising relatively higher returns. This strategy is seen as a bold disruption to the traditional high-fee culture common in the wealth management industry.
CEO and founder Nick Perrett has voiced his excitement and gratitude for the overwhelming support, attributing the successful crowdfunding campaign to the company’s mission and unique approach. “Having launched the company only last month, to get such excellent momentum and a fantastic set of new shareholders is a genuine endorsement. We can now deliver on our mission of maximizing the potential wealth of our members from a position of strength.”
This crowdfunding success is a clear indication of Prosper’s potential and a testament to their disruptive approach to the WealthTech industry. Despite currently being a UK-focused business, the support from investors worldwide showcases Prosper’s global appeal.
