WeSwap breaks records in £2.4 million crowdfunding campaign

The world’s first peer-to-peer currency exchange has raised more than £2.4 million through crowdfunding, breaking the UK record for investors in a single campaign.

London-based WeSwap closed its recent funding round on Seedrs on Sunday night, bringing in £2,420,269.

Almost 3,000 investors – including tennis world number one Andy Murray – have backed the company since October 26.

The start-up also closed a second round of VC funding in July 2016, totalling £6.5million, in a round led by Ascot Capital Partners, EC1 Capital and IW Capital.

Jared Jesner, WeSwap’s founder and CEO says: “The aim of WeSwap’s crowdfunding was to make as many of the public – people who use travel money abroad every year – part-owners of the company. We want all our investors to help shape the future of the travel money industry and attracting such high levels of support is really encouraging ahead of a year of international growth.

“There is clearly huge appetite for more transparency in the currency exchange market.

“By setting a new record for the number of investors in a Seedrs’ campaign, WeSwap has achieved its number one goal of being The People’s Currency Exchange.”

Ben Aronsten, Chief Marketing Officer at Seedrs added: “It has been very exciting to see how engaged the WeSwap community has been in supporting this fundraising activity and helping the company exceed its £1m target before the campaign had even opened to the public.”