Ziglu crowdfunds £6 million for app that combines traditional and digital currencies

Ziglu tech.eu

London-based Ziglu has raised £6 million through a crowdfunding campaign on Seedrs. Ziglu allows users to manage traditional and digital currencies in one app. The cryptocurrency platform prides itself on financial inclusivity, that it gives everyone access to digital currencies such as Bitcoin, Bitcoin Cash, Ether, Litecoin and XRP.

Just five months ago the startup announced over £5.25 million in seed funding, so why the campaign on Seeders? As CEO and co-founder Mark Hipperson told tech.eu in a recent interview: “What we’re trying to do is add customers and profile and crowdfunding does a really good job of doing that. It brings people to Ziglu who might not have heard about it, from the investor community.”

The fintech company aimed to raise just £1 million on the site, but blew past that target within a few hours.

From over 1,250 investors, the average ‘cheque’ was £4,800. Ziglu is classified as a Knowledge Intensive Company (KIC) by HMRC, which lets KIC investors claim tax relief on investments up to the value of £2 million, since they’re essentially funding R&D.

Photo: Mark Hipperson, CEO and co-founder

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