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Frost completes £1.87m crowdfund

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Manchester fintech Frost has closed it’s latest fundraising round, exceeding it’s initial funding targets by raising £1.87 Million over four weeks.

The e-wallet provider achieved it’s target nine days ahead of schedule, with 184 investors contributing to the crowdfunding campaign on Seedrs. The campaign launched on  March 27, and in total Frost is issuing 12.12 per cent equity to those who have invested through the crowdfunding platform.

The closing of the raise comes a few weeks after the Frost announced that it is now certified CarbonNeutral.

Frost co-Founder and CEO Pawel Oltuszyk said: “We’re proud to see our latest fundraising campaign completed ahead of time, and above target. In working alongside Seedrs, we’ve had the opportunity to introduce our company and its platform to new audiences and new investors, all of whom seem very impressed with what we have to offer.

“Now our focus shifts to utilising this raise in a manner that delivers extra value to our customers, as well as our investors. Across Britain, everyone is worried about the cost-of-living crisis but tools like Frost are helping to give individuals more power to fight back. This latest raise puts us in an even better position to go further in that effort and ultimately in helping more people deal with the economic realities of today.”

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