Record-breaking British investment platform Belong has closed its first crowdfunding campaign with Crowdcube, hitting its 拢300,000 target in under five hours and securing a total raise of over 拢489,000.聽
The firm says recognised names in the finance and tech sectors have joined the fundraise among 332 new investors as a direct result of the campaign which went live on 10th February.
The scaleup emerged from stealth last March, announcing it had previously secured 拢2.95m – the largest pre-seed round in Europe for an all-female founding team.聽
Designed for millennials and young adults, Belong is aiming to make investing more inspiring and rewarding, with a keen focus on product innovation and financial enlightenment.
Funds from this round will be used to drive high-demand product enhancements, to scale customer acquisition, and to forge strategic distribution partnerships in the UK.
With a minimum investment of 拢500, the London FinTech鈥檚 platform offers GIA and Stocks and Shares ISA accounts, as well as its Boost loan, which allows customers to invest more money upfront and is described as a 鈥榤ortgage for investments鈥�.
It offers users who have at least 拢1,000 invested on the platform the option to double that amount with a low, fixed interest loan.聽
Since launch, over 80% of customers have opted for a Boost loan, providing a strong proof of concept for the financial product鈥檚 viability.聽
“Millennials and Gen Zs are being left behind in wealth-building, not because they lack ambition, but because they鈥檙e faced with convoluted systems, overwhelming choices, and a lack of true innovation,鈥� said CEO Avion Gray (pictured, right), who founded Belong with Samantha Rosenberg.
鈥淎t Belong, we鈥檙e changing that. By working hand-in-hand with our community, we鈥檝e created a next-generation investing experience – one that is intuitive, engaging, and designed to help people invest more effectively.聽
鈥淲ith an estimated 拢254bn of cash currently held by 25-44-year-olds in the UK, there鈥檚 a clear requirement for modern solutions. This raise is a testament to the appetite for change, and we鈥檙e thrilled to have so many investors joining us on this journey.”