British wealth-tech platform Belong has closed its first crowdfunding campaign with Crowdcube, hitting its £300,000 target in under five hours, and securing a total raise of over £489,000.
The campaign went live on 10th February, gaining substantial momentum that resulted in Belong overfunding by 163%.
The scaleup emerged from stealth last March, announcing it had previously secured £2.95 million - the largest pre-seed round in Europe for an all-female founding team. Designed for millennials and young adults, Belong is reimagining wealth-building by making investing more inspiring and rewarding, with a keen focus on product innovation and financial enlightenment.
Funds from this round will be used to drive high-demand product enhancements, to scale customer acquisition, and to forge strategic distribution partnerships in the U.K.
With a minimum investment of £500, the platform already offers GIA and Stocks & Shares ISA accounts, as well as its pioneering Boost loan, which allows customers to invest more money upfront and enhance the effect of compounding returns over time. Unlike conventional platforms, Belong’s optional Boost loan, described as a “mortgage for investments”, offers users who have at least £1,000 invested on the platform, the option to double that amount with a low, fixed interest loan. Since launch, over 80% of customers have opted for a Boost loan, providing a strong proof of concept for the financial product’s viability.
Commenting on the success of the campaign, Avion Gray, CEO and Co-Founder of Belong, said: “Millennials and Gen Zs are being left behind in wealth-building, not because they lack ambition, but because they’re faced with convoluted systems, overwhelming choices, and a lack of true innovation. At Belong, we’re changing that. By working hand-in-hand with our community, we’ve created a next-generation investing experience - one that is intuitive, engaging, and designed to help people invest more effectively.
“With an estimated £254bn of cash currently held by 25-44-year-olds in the UK, there’s a clear requirement for modern solutions. This raise is a testament to the appetite for change, and we’re thrilled to have so many investors joining us on this journey.”
Belong is already backed by top VCs like Octopus Ventures and Connect Ventures, and 50+ angels, who have founded, or led, companies like Robinhood, Nutmeg and Wise.