Fintech startup Squirrel is crowdfunding fresh investment on SyndicateRoom

A fintech startup whose app helps people better manage their money is seeking fresh funding via crowdfunding.

Squirrel is seeking to raise £400,000 on equity crowdfunding platform SyndicateRoom, with £100,000 of that already promised by angel investor Jos Evans.

The two-year-old startup offers users a bank account and budgeting features and already has more than 5,000 users and £2.9m managed through the app.

It will use the new funds to expand its service, particularly focusing on the students and pensioners.

“Engaging online investors in a fundraise has been a route that we’ve been considering for some time,” said founder and chief executive Mutaz Qubbaj.

“However, it was crucial to reach a point where we could demonstrate our success and track record, so we could make it a solid opportunity. It’s been an incredible journey for the business so far, and we’re excited to welcome investors to join us from this point.”

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Source: Fintech startup Squirrel is crowdfunding fresh investment on Syndicate Room | City A.M.