Manigo storms past crowdfunding target, raising £650k

Money management application Manigo has raised £650,000 in its crowdfunding campaign, storming past its initial £300,000 target.

The London-based company received 385 investors to its sale, which was raised at a pre-money valuation of £3m. During the crowdsale on the Crowdcube platform, Manigo sold 17.56 per cent of its equity.

Manigo is a single platform designed to manage all money for consumers, businesses and merchants. For consumers, the platform enables them to build a multicurrency account with a MasterCard, make instant money transfers, social payments, budgeting and messaging.

Businesses can use the service to control and manage employees’ expenses, international payments, and receive real-time spending overview and finance reports, among others. Merchants can use Manigo to receive payments instantly and without high fees.

The platform is currently in beta and is set for launch later in the year.

Earlier this week, Australia-based digital bank Xinja surpassed its crowdfunding campaign, picking up AUS $778k. The company raised the funds to support with the launch of its product and the development of its technology.

Last week, digital banking solution Alkami Technology bagged its Series D from a group of investors which included General Atlantic, S3 Ventures, Argonaut Private Equity and a selection of FinTech strategic investors.

Copyright © 2018 FinTech Global

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