Owners of new investment platform are youngest to gain full authorisation from the FCA and aims to raise £4.5m for SMEs in its first year
Volpit, the UK’s new startup investment platform has officially launched today. It now holds the crown as the youngest-owned crowdfunding platform to gain full authorisation from the Financial Conduct Authority (FCA).
By law, businesses can only conduct regulated financial service activities in the UK if they are authorised by the FCA. Securing authorisation can be a very arduous and long-winded process, which is why only three of Volpit’s competitors have managed to achieve it (CrowdCube, Seedrs and Syndicate Room). However, Volpit brings a fresh perspective to the marketplace, giving a competitive edge over its rivals, who are owned by people twice their age.
The two tech-savvy co-founders of Volpit, Patrick O’Flaherty (24) and Simon Oberman (22), successfully created the platform on a mere quarter of the cost of their competitors, by smartly investing in innovative technology. They kick-started the business with over 1,400 business startups and investors already, with more than 1,000 expected to join by the end of the month. Some of the startups already registered on the platform include Dubble Me, Freefold, Gobbledy Juice, Film Co, Chinofy and Trabblr.
A further 250 startups are expected to join Volpit over the next 12 months, and approximately 30 of those businesses will be supported to raise an average of £150,000. The platform has integrated a significant feature, which surpasses its competitors by far – the innovative and interactive Pitch Builder™. It enables early entrepreneurs who may have never written a business plan before, to create one by simply answering a series of simple questions. The pitch is then presented in a standardised and interactive framework. Volpit aims to streamline the entire fundraising process and all legal agreements online, saving both the investors and startups time and money.
With only three other investment crowdfunding platforms in the industry authorised and regulated by the FCA, the Volpit team is celebrating its success with an official launch dinner on Thursday 26th June at their new office in Dalston. Volpit is on a mission to raise £4.5m for SMEs in its first year.
Patrick O’Flaherty, Co-founder of Volpit comments on their achievement: “Building Volpit and the legal and regulatory framework that surrounds it, has been challenging. We have invested extensively in the technology of the platform, with the aim to make the search for investment simple and smart for both investors and entrepreneurs.
“We are excited to officially launch and support startups across the UK in their search for the right investors. We are working hard to attract game-changing startups to the platform."
For more information about Volpit, please contact Tashia Cameron at Sense Communications by emailing firstname.lastname@example.org or call 0203 5513954.
Volpit was founded by Simon Oberman and Patrick O’Flaherty in December 2012. Volpit aims to make investing in startups simple, by streamlining the entire fundraising process and bring it online. Volpit is authorised and regulated by the Financial Conduct Authority.
Eager to join and experience the exciting world of startups, and after researching current funding processes, the Volpit team was shocked at the level of difficulty entrepreneurs faced when attempting to secure investment. Their dissatisfaction with the current investment model spurred them to radically change the manner in which startups find and secure funding.
They endeavored to build a streamlined, simple and transparent platform, which entrepreneurs could rely on. A few months of debating later, the idea of Volpit began to take shape and in December 2012 the team registered Volpit Limited with Companies House.
Volpit’s mission is to empower passionate entrepreneurs with the tools they need to bring their ideas to life in order to secure the support of other passionate people around them. The team’s mantra is: ‘anyone can invest in anyone.’