VitraCash closes crowdfunding campaign on £300,000

UK-based virtual payments card VitraCash has collected £306,000 in a crowdfunding campaign, which was raised at a £1.8m pre-money valuation.

The funds, which were raised through the Crowdcube platform, was supplied by 898 investors. Shares were priced at £0.09 and 14.5% of the FinTech’s equity was distributed through the funding round.

VitraCash beat its initial target of £50,000.

The company was raised the funds to cover its costs for card processing and development to support its launch in the summer.

VitraCash offers a mobile app, alongside physical and digital debit cards. Users can use the app to store all of their cards, with transactions saving money and earning them rewards.

In addition to payments, the app has multi-card analytics, showing the use their spending habits.

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