A truly global account for the digital age, traditional & digital currency managed seamlessly in one app.
- Started by Starling Bank Founder and CTO, Mark Hipperson
- UK FCA & Danish FSA registered
- Raised £12m so far & 2020’s largest Seedrs equity campaign
- One of the few fintechs to build their own cloud banking platform
At Ziglu digital finance is simple and available to all.
Customers have easy and insured access to cryptocurrencies, a Mastercard debit card, and safeguarded GBP accounts.
We help grow our customers’ money in innovative and secure ways, whether investing in our curated portfolio of cryptocurrencies, or our ground-breaking 5% interest investment accounts.
Very soon, we plan for customers to also be able to start to build their stocks, funds and commodities portfolio in the same safe and simple way that they expect from Ziglu. We also plan to launch euro accounts with market-leading FX rates.
Ziglu is regulated by the UK FCA as an e-money firm and has 5MLD registration, which is essential for businesses conducting crypto activity.
We’re also very pleased to announce that Ziglu is now fully authorised by the Danish FSA as an e-money institution enabling us to launch across all of Europe.
Substantial accomplishments to date
Led by Mark Hipperson, a Founder and former CTO of Starling Bank, we’ve built a team with a record of growing huge fintech companies e.g. Monzo, Starling, Funding Circle, and Monese.
Achievements so far:
🚀 £12 million raised so far from world-renowned investors, crypto founders and HNWIs
🚀 Valuation increased by over 460% from £15m to £85m
🚀 Authorised by the UK FCA as an Electronic Money Institution and one of the first cryptocurrency companies to be registered under the UK’s Money Laundering Regulations (5MLD)
🚀 Authorised by the Danish FSA as an Electronic Money Institution
🚀 In process to become an Appointed Representative to offer investment products such as equities, funds, and commodities
🚀 Rapid growth with a total of 80k+ signed up customers, and an average of 20% MoM growth in 2021
🚀 Launched ground-breaking 5% interest Sterling & Bitcoin investment accounts
🚀 Our customers’ digital assets are insured against cyber attacks
🚀 Instantly send GBP or any cryptocurrency to contacts
🚀 No spending or FX fees when using the Ziglu Mastercard debit card
🚀 Added portfolio analysis, price alerts, & historical charts to our app
🚀 Increased the number of cryptocurrencies to 10 with many more ready
🚀 Household name with media appearances, such as BBC, The Times, Reuters
Ziglu has multiple revenue streams through our diverse offering of services.
☑️ Crypto transaction fees
☑️ Card rebate (interchange and international withdrawal)
☑️ Interest margin made from 5% investment accounts
We plan for the below revenue streams in the future:
☑️ Investment (assets under management) charge
☑️ Stocks & Tokenized stocks
☑️ Funds & ETFs
☑️ FX market competitive fees
☑️ Premium services for a monthly subscription
Use of proceeds
The funds raised in our series A, which includes this Seedrs campaign, will be used predominantly in three areas:
☑️ PRODUCT (30%) - We have an innovative and ambitious product roadmap that includes:
Investment accounts & ISAs for stocks, funds and commodities
Multi-currency accounts and FX
Additional “Boost” high interest accounts
Many more features to come!
☑️ INTERNATIONAL EXPANSION (30%) - Ziglu is now authorised by both the UK FCA and Danish FSA. As such we are able to utilise licenses to commence international expansion. These plans will require further investment into regional teams & localisation of our app & marketing.
☑️. USER ACQUISITION (40%) - In 2021 we began to scale our most successful marketing channels to grow rapidly, and now have over 80,000 signed-up customers. In 2022 Ziglu plan to double down on core channels such as referrals, out of home advertising and content marketing, whilst also pursuing new, less crowded and innovative channels
Outstanding Convertible Loan Notes
The company has the following outstanding convertible loan, which may convert to equity after this round and dilute existing shareholders:
£1,500,000 Convertible Loan, with the following key terms:
Interest rate: 8% non-compounding. On conversion events, the company can choose to repay the interest or convert it to equity (without the discount).
Valuation Cap: £120,000,000
Default share price: a share price which is the lower of (i) the lowest share price of the most recent equity financing, less the Discount, and (ii) a price per share which results from dividing the Valuation Cap by the Company’s current fully diluted share capital.
Qualifying Financing Round: An equity raise of at least £10,000,000. Conversion will occur at the Default Share Price.
Non-Qualifying Funding Round: the lender can elect to convert the loan on an equity financing round which does not meet the size criteria of a “Qualifying Equity Financing” at the Default Share Price.
Maturity Date: 30th April 2024. The default position on the maturity date is that the loan will convert to equity at the Default Share Price, unless the lender elects to redeem repayment of the principal loan.
Exit: the convertible loan will automatically convert at the Default Share Price or be redeemed on an Exit, whichever would give the lender a higher cash return.
Events of default: the convertible loan is to be repaid on an event of default, such as a liquidation or winding up.
Share class: Most senior class of shares issued in the round
This round is not expected to trigger this convertible loan.
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