Ziglu, the crypto payments app from former Starling Bank co-founder and CTO Mark Hipperson, has raised £6 million from 1250 investors on crowdfunding Website Seedrs.
Ziglu initially aimed to raise £1 million but hit this target within three hours of the page going live. The campaign, the largest Seedrs equity raise of 2020, was more than five times oversubscribed, and the company has now raised £11 million during 2020 including the initial seed funding round.
Launched in June, the Ziglu app lets users hold both fiat and up to four cryptocurrencies - bitcoin, Ether, Litecoin & Bitcoin Cash - in an e-wallet, connecting with crypto exchanges for in-app and P2P currency transfers and enabling spending via a Mastercard debit card.
The firm recently celebrated the launch of its limited edition power pink Mastercard debit card by enabling Ziglu customers to support their community through FareShare, the UK's largest charity fighting hunger, with a donation every time they use their card at a supermarket.
Ziglu has ambitions to process up to $1 billion in transactions in its first year and to eventually expand from the UK to the US.
The firm says the new capital will go to fund the technology and product development teams and international expansion.