RiskSave Technologies, yet another low-cost robo-investing platform intended for retail investors, is raising funding on UK’s leading equity crowdfunding platform Crowdcube. The company was launched earlier this year.
Eight days before the end of the campaign it is 140% overfunded and has raised £211 410 from 244 investors. Initially RiskSave Technologies was seeking £150 000 for technology development and hiring of senior staff. The company is offering 3.4% in equity and has pre-money valuation of £6 million.
According to its financial forecast documents, it intends to spend £25 000 on personnel, £25 000 in general and administrative (including office space and insurance) and £8300 on marketing. Early 2017 includes £50 000 in technology development expenses.
RiskSave will be offering low cost transparent service creating a tailored, diversified and optimized portfolio based via management techniques previously only available to largest institutions. The goal of the company is to create the “leanest robo-investing platform in Europe” by providing “best-in-class risk management and the fairest prices“.
It is also working towards obtaining a full authorization from the Financial Conduct Authority within the next year, open its first foreign office and develop new sales channels. RiskSave is also raising funds to expand its development team, hire salespeople, senior management, augment its customer base and develop new revenue streams.
Trading platforms, copy trading and robo advice platforms seem to be all the rage on the equity crowdfunding platforms in the recent months. Freetrade, a UK fintech company that develops a free stock trading app for small retail investors reached 172% of its funding target on Crowdcube.
Timetotrade, a a UK web-based trading platform for forex, CFDs, shares, funds and spread betting, was also raising funding on Crowdcube, while MeerTrade, an automated mirror stock trading platform was seeking investments on Fundable.
Considering the potential of the low cost automated investment advice platforms to expand in the near future, the rising interest of investors in such offering is quite explicable.