Belong, a UK-based wealth-tech platform, has successfully raised over £489,000 in its first crowdfunding campaign on Crowdcube, surpassing its initial £300,000 target in under five hours. The campaign, which launched on 10th February, garnered strong momentum, resulting in a 163% overfunding. This funding round marks an important milestone for the platform, following its record-breaking £2.95 million pre-seed raise, the largest pre-seed round in Europe for an all-female founding team.
Founded with the aim of revolutionizing wealth-building for millennials and young adults, Belong is reimagining investing by making it more inspiring, engaging, and rewarding. The platform’s focus is on product innovation and financial enlightenment, allowing its users to take control of their financial futures in a more accessible way. With funds raised from this crowdfunding campaign, Belong plans to drive product enhancements, expand customer acquisition, and forge strategic distribution partnerships across the UK.
Belong offers a unique approach to investing, providing General Investment Accounts (GIA) and Stocks & Shares ISAs, as well as its innovative Boost loan. The Boost loan is designed to help customers amplify their investments by allowing them to borrow a low-interest loan to double their initial investment. Unlike traditional investment platforms, this optional loan, referred to as a "mortgage for investments," is available to users who have at least £1,000 invested on the platform. Since its launch, more than 80% of Belong’s customers have opted for the Boost loan, proving the viability of the product.
Avion Gray, CEO and Co-Founder of Belong, commented on the success of the campaign, stating, "Millennials and Gen Zs are being left behind in wealth-building, not because they lack ambition, but because they’re faced with convoluted systems, overwhelming choices, and a lack of true innovation. At Belong, we’re changing that."
With an estimated £254 billion in cash currently held by 25-44-year-olds in the UK, Belong is addressing a clear market need for modern, user-friendly financial solutions. The platform is already backed by top VCs like Octopus Ventures and Connect Ventures, as well as over 50 angel investors from companies like Robinhood, Nutmeg, and Wise.
Belong's mission is to revolutionize investing by offering a next-generation experience, one that is intuitive, engaging, and designed to help people invest more effectively.
