The swipe right-swipe left concept of Tinder has transformed the dating world, making it a much faster place. Now that same concept is being applied to the world of crowdfunding.
New Look founder Tom Singh is among a pool of investors to have pumped nearly £500,000 into a new crowdfunding app that operates like popular dating app,Tinder.
OFF3R, is the world's first mobile crowdfunding aggregator. It gives users brief information about a crowdfunding campaign - they can then swipe right to track a deal and find out more information, or swipe left if they're not interested.
Launched in June 2015, the beta phase saw OFF3R drive more than 50,000 requests for more information from 35 partner platforms, including Crowdcube, Seedrs and Zopa.
The app's founder, Lex Deak, said: “We are very excited as this investment will help us establish OFF3R as a leading player in the alternative finance market, providing a world-class user experience across mobile and web platforms. We want to make it an even more powerful and useable tool, helping the investor community to discover and invest in companies from a broad range of sources”.
Tom Singh has been joined the likes of angel investor Daniel McPherson and Earlymarket, a law firm for early stage companies, in providing OFF3R with a £480,000 investment.
Patrick Willis from Earlymarket said: “There is a clearly a need for aggregation in the crowdfunding space and we are very impressed by how far OFF3R have come at this this early stage - we think of them as the Rightmove of seed capital. With our experience in hedge funds and high net worth investors, we hope to leverage our network to further broaden OFF3R’s investor database”.
Mr Deak added: “To have backing from such a high calibre of investors will not only help us grow the platform, but allow us to attract the best talent and establish OFF3R as a leading brand in the broader alternative investment space. Our aim is to build the plumbing that increases the flow of capital to entrepreneurs around the world.”