UK startup Civilised Money has raised 100,000 GBP from 121 individual investors using the p2p equity platform Crowdcube. The investors will own 10% of the funding after the legal process of the funding is completed. The funding was completed in just 9 days, showing the potential p2p equity has in the UK.
Civilised Money plans to offer crowdfunding first and p2p lending in a second step. Katherine Byles of Civilised Money told P2P-Banking.com earlier this week that this is actually the second funding round for the company: ‘We have a first round of crowdfunded investment from ‘The Pillars’ 20 key supporters.‘.
Asked whether the technology is self-developed or licensed, she told P2P-Banking.com: ‘The technology is licensed.Â We have a one-off revenue share based licence for one of the most powerful and flexible P2P platforms available. Â Through the core technology platform we will be able to roll-out a number of products, enabling us to cut the cost of using these – once funds are on the platform moving them between the different products is a simple and fast process.‘
Asked about the USP as compared with Zopa, RateSetter or Fundingcircle Byles said: ‘Civilisedmoney will offer all the people-to-people financial services products in one integrated service. Â It has launched with crowdfunding. People-to-people loans are coming next. It is developing new products too. CivilisedmoneyÂ is becoming a one-stop-shop for all your people-to-people financial products that create a viable alternative to banks. …‘
The company has ambitious goals as a quote from information provided in the pitch shows: ‘While its service is not yet available in the U.S., CivilisedMoneyâ€™s plans are to expand from the U.K. to greater Europe, and then eventually to Africa and the U.S. (CivilisedMoneyâ€™s services offered will depend on region, since, for example, crowdfunding equity stakes for startups isnâ€™t yet legal in the U.S.)‘.