BUX raises over EUR1 million in crowd campaign
23 November 2017 | 3591 views | 0
Next generation trading app BUX has raised a total of €1,289,892 in just two weeks of being live on equity crowdfunding platform Seedrs.
The Dutch-based company surpassed their initial €1 million target within just 24 hours of their public launch.
The raise has attracted 2,047 investors from their own community of BUXsters as well as the crowd, who all clamoured to get in on the round which is on exactly the same terms and valuation as some of Europe’s leading VC’s. The funding round will officially closed tomorrow, Friday the 24th November.
Out of the €1.2m invested, the majority of funds came from first-time investors in the Seedrs platform. 1,537 new investors, 75% of the total, invested €1,053,865 into BUX’s campaign. These investors came from 34 different countries, with the largest group coming from BUX’s home country of the Netherlands.
The company’s inaugural crowdfund follows the Company’s successful €10.6 Series C round in early October, led by Germany’s Holtzbrinck Ventures, one of Europe’s most successful venture capital firms. Velocity Capital also supported the round together with a number of influential angel investors, including former Booking.com CMO Arthur Kosten and Thierry Schaap, co-founder of online brokerage firm BinckBank.
BUX intends to use the funds raised from the crowd to expand its product offering in order to offer a full suite of apps by 2020; these will range from short term trading, to long-term investing. Over the next year, BUX will start with a long term investment app and is also aiming at launching a crypto app due to substantial user interest. Investing in cryptocurrencies remains very cumbersome, with a number of risks involved, thus alienating many regular investors. However, BUX’s mission is to make such intimidating aspects of investing easier, without taking on too much risk, which is exactly what’s needed to make crypto investing more mainstream.
Ultimately, by 2020 BUX aims to be the single destination for those who would like to do more with their money. Whether it is to explore the stock markets by short term trading or whether it’s to invest for the long term. For every investment need there will be a BUX solution.
BUX Founder & CEO Nick Bortot said: “We were delighted to reach our investment target within 24 hours of opening the round to the public, and are thrilled with the result of the total round. We’re overwhelmed by the interest we received and are excited to welcome the whole new team of investors, advocates, and hopefully users. We would like to say a huge thank you to the BUXsters and supporters who have recognised the potential of BUX; their dedication and support of the brand over the last three years is what has helped us get to where we are today. We continue to be committed to developing our products in order to improve and enhance their BUXster experience.”