" class="no-js "lang="en-US"> InvestEngine Closes £2m Crowdfund to Grow Its Investment Platform - Fintech Finance
Monday, May 20, 2024

InvestEngine Closes £2m Crowdfund to Grow Its Investment Platform

Exchange-Traded-Fund (ETF) investment platform InvestEngine has closed a crowdfunding round of £1.94m from 1134 individual investors.

InvestEngine hopes to use the crowdfunded capital to add features such as savings plans, workplace investing and self-invested personal pensions to its ETF platform this year. The London-based fintech exceeded its initial goal of £1.25m.

Andrey Dobrynin, co-founder and managing director, InvestEngine said: “We’re looking forward to another strong year of growth as we expand into exciting new areas and products that meet the needs of new and experienced investors alike, making investing more accessible, and helping people to take greater control of their long-term financial goals.”

InvestEngine’s crowdfunding page states the firm sold shares at a price of £2.66 and has a pre-money valuation of £27,605,741.

The firm told UKTN, the valuation was “quantitatively” reached through a number of different methods, with the “main four” being “a detailed discounted cash flow model, comparables analysis based on assets under managment, comparable analysis based on a number of clients and cumulative investment so far”.

It comes after the investment platform’s first crowdfund of over £1.5m in June last year.

“The global market for ETFs has experienced phenomenal momentum in the last five years,” added Dobrynin.

“And our second successful crowdfunding round only proves there’s widespread belief that this market will continue to boom.”

According to the investment company, it has over 25,000 accounts and more than £170m in assets under management.

Dobrynin launched InvestEngine in 2019 with Simon Crookall, co-founder of the classified ads website Gumtree. It is regulated by the Financial Conduct Authority (FCA) and protected under the Financial Services Compensation Scheme.


People In This Post

Companies In This Post

  1. UK Sector Growth Resilient in April, Despite Increased Cost Pressures – Lloyds Bank UK Sector Tracker Read more
  2. Cornerstone Advisors Appoints Steve Williams as CEO Read more
  3. Payarc Partners with AWS to Develop Payments Artificial Intelligence Platform Read more
  4. SALT Granted FCA Approval and Gears Up for Summer Launch Read more
  5. finova’s Apprivo Mortgage Origination Platform Powers Suffolk Building Society’s Mortgage Offering Read more