OFF3R, the world’s first mobile crowdfunding aggregator, is eying a major expansion after a £480,000 ($685,656) investment from leading investors including New Look Founder Tom Singh, super-angel Daniel McPherson, Earlymarket and the Head of Marketing from Rocket Internet backed Jumia.
Lex Deak, the founder of OFF3R said “we are very excited as this investment will help us establish OFF3R as a leading player in the alternative finance market, providing a world-class user experience across mobile and web platforms. We want to make it an even more powerful and useable tool, helping the investor community to discover and invest in companies from a broad range of sources”.
Since London based OFF3R launched in June 2015 the app has had over 500,000 interactions with 2 million deal alerts sent to investors in 75 countries. During the beta phase the app has driven over 50,000 requests for more deal info from 35 partner platforms such a Crowdcube, Seedrs and Zopa.
Patrick Wills of Earlymarket said “There is a clearly a need for aggregation in the crowdfunding space and we are very impressed by how far OFF3R have come at this this early stage – we think of them as the Rightmove of seed capital. With our experience in hedge funds and high net worth investors, we hope to leverage our network to further broaden OFF3R’s investor database”.
OFF3R plan to use the investment to become the leading marketplace and community for alternative investments, this includes a major update to the mobile product, a web interface and free data portal for the community.
Deak continues “To have backing from such a high calibre of investors will not only help us grow the platform, but allow us to attract the best talent and establish OFF3R as a leading brand in the broader alternative investment space. Our aim is to build the plumbing that increases the flow of capital to entrepreneurs around the world.”
A team from international law firm, Wragge Lawrence Graham & Co (WLG), advised OFF3R. WLG’s Mark Knight, an associate in the firm’s corporate team, who led negotiations said: “This is the first transaction we’ve advised OFF3R on and we’re very pleased to have supported them on such a significant move in their development, particularly within this competitive space. OFF3R is an exciting company to be working with and we’re looking forward to providing our ongoing support to them in the future.”
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