Fintech raising funds
Gadhia ready to launch £5m crowdfund for Snoop
Jayne-Anne Gadhia: ‘it was the right time’
Financial management app Snoop, chaired by former Virgin Money boss Jayne-Anne Gadhia, is about to launch a £5m crowdfunding campaign on Seedrs, according to a trade source.
The app has been downloaded 100,000 times and has 75,000 active users just five months after launch.
It uses artificial intelligence and open banking data to help consumers save money on bills and day-to-day spending.
Dame Jayne-Anne told the fintech website AltFi: “We’ve had lots of customers come to us over the past few months and ask us when they can invest in Snoop, so we thought it was the right time to crowdfund.”
“The goal is £5m, but I’m not trying to set a limit. If we raised a little bit more, brilliant, or even if we raised less, we’d still be really happy.”
She said she chose to use Seedrs for Snoop’s first crowdfunding effort partly because of her previous professional relationship with Seedrs CEO Jeff Kelisky.
She has also revealed plans to extend the platform from a consumer service to serving SMEs.