CapitalRise has raised more than £1m in its latest crowdfunding round to convert its future fund support to equity and is still open to more investors.
The property lending platform has attracted £1.09m from 188 investors in a private crowdfunding round on Seedrs and it has now been pushed live to the public.
It is the lender’s third crowdfunding round and it had targeted raising £1m.
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This raise will trigger the conversion of its future fund agreement, CapitalRise’s Seedrs campaign page said, “meaning shares will be issued to the loan holders at a 20 per cent discount to the share price set by this round.”
CapitalRise raised £1.15m in a crowdfunding campaign on Seedrs in December 2020 that allowed it to get matched funding through the future fund.
Once the crowdfunding campaign closes, the future fund loan from the British Business Bank will be converted to equity at a share price of currently £49.18.
The money raised will also be used to build its developer and lending teams, invest in technology to build a fully automated investor platform and to launch new products and open additional distribution channels including diversifying funding sources.
The largest investment amount so far is £250,000 from an anonymous user and the campaign closes in 29 days.
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