Rimbal Ltd has launched a crowdfunding campaign in the UK to raise a minimum of £60,000 as part of its funding strategy.
The crowdfunding campaign is in-conjunction with the Australian company’s capital raising to raise up to £750,000 through London-based FCA-regulated financial advisor City One Securities. Rimbal’s crowdfunding campaign through the Seedrs platform allows European citizens to invest in the company to in-exchange for ordinary equity shares in the company. The capital will be used to fund technology development and business growth.
“The potential for seed fundraising in Australia is limited and crowdfunding and the UK Seed EIS tax relief program is an extremely efficient structure to attract start-up capital for Rimbal and our investors, Angus MacNee, the Managing Director of Rimbal said.
“Over the past few years, I have engaged many corporate advisors and it is clear that crowdfunding is the future to raise seed capital or complement a funding strategy for certain companies like Rimbal.
The UK Seed Enterprise Investment Scheme (SEIS) is a tax relief program that provides eligible investors 50% tax relief on their investment in qualifying companies such as Rimbal.
About Rimbal
Similar to NutMeg in the UK, Rimbal is developing an online financial advisory platform that automates investment advice and allocation for Australian retail clients. Using Rimbal, users can build a tailored investment strategy, make investments and see how their portfolio is performing through a simple online-interface.
What: Online financial advisory platform that automates investment advice and allocation for Australian retail clients
Raising: Seed EIS campaign raising £60,000 for 6.25% equity share (post-money)
Where: The campaign can be seen at:
For further information, contact: Angus MacNee, Rimbal Ltd angus@rimbal.com.au or visit www.rimbal.com.au/seedrs