Assetz Capital in Overfunding at Seedrs

The team behind Assetz Capital were seeking to raise £1.0 million via a convertible equity offering (10.0% discount) on the Seedrs platform. This offering is now in overfunding (134.0%), with £1.3 million investment already funded.

Assetz Capital has successfully raised funds via Seedrs in the past:

  • £3.3 million in 2015, surpassing an initial target of £2.0 million (convertible equity, discount of 10.0%)
  • £2.1 million in 2017, surpassing an initial target of £1.0 million, in exchange for 1.96% equity (valuing the business at £50.1 million).

With regards to the current fundraising efforts, Management expects it to be a precursor to a larger anticipated institutional funding round. The funds generated are intended to support growth and strengthen its cash-flow/balance sheet position.

A convertible equity raise does not state a specific company valuation. Instead, it offer investors the opportunity to purchase at a stated discount based on the valuation at the point of the next equity raise.

Rumours of a potential future IPO will not be quashed by Managements comments acknowledging the listing of Funding Circle in late 2018, and noting that the option of an IPO is being considered.

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