Fair loan price comparison website FairMoney opens GBP1m pre-series A fundraising round

The funds raised will be used primarily for enhanced targeted customer marketing efforts, including machine intelligence, to provide customers with the very best and fairest deals for them. It will target the areas of the country which are most affected by sub-standard lending practices – many of which are building consumer debt and exacerbating poverty. In addition, following unique and exclusive research commissioned by FairMoney exploring Brits and their finances, the raise will fund even greater customer research to help focus services in the regions which borrow the most for certain needs, such as unsecured and consolidation loans.

 

To support the raise, FairMoney is also launching the Fair Finance Community Board (FFCB) in the regions. Its aim is to galvanise committed and knowledgeable people across the regions from all walks of life to support fair finance for all and lobby for fairness across the financial industry. This endeavour is supported by the Campaign for Fair Finance, who have recently been featured, along with Fairmoney.com, in Forbes and on TalkRadio, and have interviewed notable individuals such as Jacob Rees-Mogg and Archbishop of Canterbury Justin Welby to promote the FFCB.

 

Dr Roger Gewolb, Founder and Executive Chairman of FairMoney, says: “In view of current fundraising conditions, we have decided to look to raise GBP1 million of our planned GBP2.5 million phases 1 and 2 raise at this time, as the current uncertainties are likely to continue for several months and a raise of GBP1 million should fully cover our capital needs until January 2020.”

 

To join the Board at the FFCB requires a minimum investment of GBP2,000 in shares of FairMoney and a desire to promote fair financial services, especially lending practices, in their region. Debt should be a virtuous tool to help build our future and not a vicious trap to drive us into poverty. FFC Board members will be able to enjoy the resources including media exposure shared by the Campaign for Fair Finance and Fairmoney.com.

Read the full article here: https://www.privateequitywire.co.uk/2018/11/19/270648/fair-loan-price-co...