Manchester fintech Frost has raised £1.87 million from a crowdfunding campaign on Seedrs.
Frost is an e-wallet provider that connects users to utility providers to help them save on their household bills. The company’s platform enables subscribers to get a better grip on their financial in-goings and out-goings and provides users with a dedicated Visa Debit Card associated with their accounts.
Altogether, 184 investors contributed to Frost’s month-long crowdfund campaign in return for a total 12.2% equity stake.
The firm says it will use the funds to roll out new features, such as broadband switching and carbon comparison ratings, enabling users to make more informed, sustainable, and cost-effective choices when comparing different providers.
Pawel Oltuszyk, co-founder and CEO of Frost comments: "Across Britain, everyone is worried about the cost-of-living crisis but tools like Frost are helping to give individuals more power to fight back. Thankfully, this latest raise puts us in an even better position to go further in that effort and ultimately in helping more people deal with the economic realities of today.”