The Cardiff food and drink discovery app Wriggle has hit its initial crowdfunding target after just one day of going public, already exceeding an initial target of £600,000.
186 individuals (including Wriggle’s own users and restaurant-owner clients, alongside experienced angel investors) invested in Wriggle, who will use the funds to begin their UK roll-out.
Due to the success of the crowdfunding round, Wriggle will keep the round open for a while longer, to allow more users to participate.
Investors can get involved with a minimum investment of £15, with the total equity on offer of 10.64%.
Some of the top investors include Bristol Private Equity Club (£154,425) and Juno Capital LLP (£111,300). Advantage Business Angels have also invested £60,000.
Speaking about the raise, Wriggle founder Rob Hall says:
“We’re delighted with the public’s reaction to the crowdfunder – it was particularly great to see so many Wriggle users investing to claim a bit of Wriggle for themselves, and a real reward for all the hard work the whole team have poured into Wriggle. Having the backing of our own users and clients as well as other investors makes us feel even more confident as we embark on the next stage of our adventure, launching in new cities in 2019 and 2020. We’re thrilled that we smashed our initial target within the first X days, but we’re not resting on our laurels! We’re absolutely buzzing to continue Wriggle’s work in supporting the best local food and drink businesses across the country, and reclaim the nation’s high streets from the bland chains that sadly dominate these days.”
The Wriggle crowdfunder is still live as the team now enter the overfunding stage. If you would like to invest in exchange for shares in Wriggle, head to https://www.seedrs.com/wriggle3 for more information.