Belong's Crowdfunding Success: Raises £300,000 in Under 5 Hours

Belong, a British fintech startup, closed its first crowdfunding campaign on Crowdcube by reaching its target of £300,000 in under five hours, eventually raising over £489,000. This achievement attracted 332 new investors, including high-profile individuals from the finance and tech sectors. With its origins as a stealth company, Belong made headlines last March by securing a record pre-seed round of €2.95 million, marking a significant milestone for all-female founding teams in Europe. The company, which positions itself as a fresh alternative for millennials and young adults, focuses on making investments more inspiring and accessible, spotlighting innovations in financial products and user engagement. The capital from this investment round will primarily support product enhancements, increased customer acquisition, and strategic UK partnerships. Under its business model, Belong offers flexible investment options including General Investment Accounts (GIA) and Stocks and Shares ISA accounts, alongside a unique 'Boost' loan facility designed to enable investors to elevate their financial involvement through manageable fixed-interest terms. CEO Avion Gray emphasizes the company’s commitment to demystifying investing for younger generations, aiming to convert barriers into intuitive, rewarding experiences. The rapid success of this crowdfunding round underlines significant market demand for innovative financial solutions tailored to modern economic participants.