A new start-up investment platform called Volpit launched in the UK this week, pledging to help companies to raise £4.5 million in its first year in operation.
Volpit, the brainchild of 22-year-old Patrick O’Flaherty and 24-year-old Simon Oberman, was launched after recently being awarded full authorisation by the financial conduct authority.
The company, based in East London's Dalston area, said securing authorisation from the FCA is difficult and timely, claiming this is why only three of its competitors (CrowdCube, Seedrs and Syndicate Room) have acquired it.
The equity crowdfunding platform is seeking to differentiate itself by helping early entrepreneurs who may have never written a business plan before, to create one by simply answering a series of questions. The resulting pitch is then presented in a standardised and interactive framework.
Volpit believes it is on course to fund 30 businesses with an average investment of £150,000 each over the next 12 months.
Some of the start-ups already registered on the platform include Dubble Me, Freefold, Gobbledy Juice, Film Co, Chinofy and Trabblr.
“Building Volpit and the legal and regulatory framework that surrounds it, has been challenging,” said O’Flaherty. “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."