Assetz Capital surpasses £500k fundraising target in one week
Assetz Capital has exceeded its £500,000 minimum Seedrs fundraising target within the space of a week.
The lender now aims to secure matched investment from the government’s Future Fund.
Assetz Capital set a minimum overall target, including the Future Fund matched investment, of £1m when the fundraising went live one week ago.
The funding round has a maximum of 27 days remaining to run before closing, and an overall investment of up to £2m is expected.
The government’s Future Fund enables high-growth British businesses to apply for a convertible loan of between £125,000 and £5m, matched against private investment.
The loan, alongside the equivalent private investment, can then convert into an equity investment in the company within 36 months.
Assetz Capital was accredited as a lender under the government’s Coronavirus Business Interruption Loan Scheme (CBILS) in May 2020 and will use the capital to support its CBILS delivery.
Stuart Law, CEO at Assetz Capital, said: “We are again delighted by the response from our investors to this fourth funding round through Seedrs.
“We would also be proud to bring the UK government into our shareholder base through the Future Fund.
“This funding round, in the middle of the pandemic, is another endorsement of both our model and our approach during an incredibly difficult economic period for many businesses.
“We look forward to commencing CBILS lending as soon as possible this month to support UK business and housebuilders.”