Share-buying Dabbl app overfunded in first Seedrs campaign
Dabbl, a share buying app, has secured its initial £350,000 Seedrs crowdfunding target, now nearing £600,000.
This is a good reason for the team to be happy, since now they are over 60% overfunded, just by the support of over 200 investors.
The app already has customers, and is designed as a low-barrier entry into buying and selling shares by the public at low costs. The app is “jargon-free, underlining the message that anyone should be able to be a self-directed investor”.
Dabbl says: “With 58% of UK millennials considering starting an investment portfolio, but only 4% having done so, this app addresses a target market of millions in the UK alone.”
The firm launched its crowdfunding campaign to pre-registered investors on 3 July, ahead of a public launch on 6 July. Investment in Dabbl is eligible for Enterprise Investment Scheme (EIS) tax relief.
Mark Ackred is the founder and CEO of Dabbl, who has previously worked at CMC markets.
The firm explains that to preserve long term value for existing shareholders, it has the ability to close the funding round early.
Recently, we reported on a different Seedrs campaign, for an “income smoothing” product by Trezeo.