Ablrate’s profitable year triggers fund raise 10/01/2019
Ablrate has punched above its weight in the P2P market. Unlike many, we have been absent from the fundraising scene for 4 years.
CEO David Bradley-Ward explains “We started the business with funds from myself and my business partner followed by a small SEIS raise of £150,000 and then an EIS raise of £150,000 shortly after. We also raised debt of £400,000 of which £250,000 remains outstanding. So far this has been enough for us to achieve our goals”.
The company has grown rapidly (a turnover increase of over 150%+ per annum) from a relatively small amount of investment, so why raise funds now? Bradley-Ward continues “From the beggining we have aimed to provide fair returns for the risk being taken by our lenders. That should be no different for our shareholders. We have seen many companies of an equivalent size or smaller than us raising millions at large valuations, before they have even proven they can make sustainable revenues, that would be against our very ethos. When you throw in that our revenue is higher and we are profitable, we decided it was time to open up our shares to the public to join us on the next phase of our journey.”
We are raising a minimum of £350,000 on Crowdcube and we would love to have you on board! Below is a brief video when our CEO was interviewed at the London Stock Exchange Studios.