dabbl, the UK’s first app-only share buying service, has already secured its initial £350,000 Seedrs crowdfunding target and is now nearing £600,000 - more than 60% overfunded - thanks to commitments from more than 200 investors.
dabbl - which already has an active customer base - has been built for breaking down the barriers to entry when it comes to individuals buying and selling shares. The app is jargon-free and easy to use, underlining the message that anyone should be able to be a self-directed investor. Costs have also been significantly reduced, making even small investments worthwhile.
Research has shown that audiences feel alienated by jargon-filled marketing campaigns they assume are designed to target wealthy male investors. 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.
dabbl launched its crowdfunding campaign to pre-registered investors on July 3rd, ahead of a public launch on July 6th. Investment in dabbl is eligible for EIS tax relief.
Mark Ackred, founder and CEO of dabbl, commented: “We are delighted by the response so many investors of all sizes have given this project. To have overfunded so quickly is especially reassuring, underlining both the conservative valuation we have applied to the business and also the fact investors appreciate supporting a product that already has clients on board placing transactions.”
To preserve long term value for existing shareholders, dabbl has the ability to close the funding round early.