Fintech start-up Flender achieves £500,000 crowdfunding target

13 Jan 2017

From left: Flender founders Oli Cavanagh, Kristjan Koik and Jeremy Davies. Image: Tadhg Conway

Dublin fintech start-up Flender has surpassed its £500,000 crowdfunding goal on Seedrs.

Flender has raised £500,516 (€572,000) for a 10.1pc equity stake in the company.

“It only took five weeks to reach this target and it is a second-biggest Irish crowdfunding raise ever,” said co-founder Kristjan Koik.

The Flender platform, which is going live in the UK and Ireland this month, is the creation of technology entrepreneurs Koik, Oli Cavanagh and Jeremy Davies.

Flender friends and family market proposition

A recent Start-up of the Week, the company is addressing the business and consumer lending market in the UK and Ireland, a market valued at around £2.5bn per annum.

The company also addresses the friends and family lending market in the UK and Ireland.

Cavanagh and Koik have also been involved in other successful tech start-ups; most recently DocLink, which helps doctors and their teams collaborate digitally and securely; and Instacoach, a video analysis platform used by tennis, golf, cricket and swimming coaches around the world.

On day one of the crowdfunding campaign, 20 investors from five countries bought into the Flender peer-to-peer proposition on Seedrs, investing an average of €20,000 each.

Around €350,000 of angel funding was also raised in early 2016 from investors including Mark Roden, Philip Grant and Rupert Horner to fund initial research and development of the unique finance platform.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years