While much of the news focused on JP Morgan’s acquisition designed to buttress a new digital banking venture, it should be noted that Nutmeg offered shares to retail investors on Crowdcube back in 2019. At that time, Nutmeg raised £3.8m in equity capital with 2168 smaller investors backing the Fintech. Nutmeg raised funding at a pre-money valuation of £251 million thus indicating a return of over 2X for crowdfunding investors.
“Secondary sales are not new to us, we’ve arranged one-off secondary transactions for multiple companies in our portfolio. Since 2017, we have delivered over £16m in liquidity through secondary shares. Most notably, Revolut shareholders achieved 20x returns in 2018. Secondary sales are proving increasingly popular as our portfolio matures and the profile of business raising capital on the marketplace continues to evolve.” said Crowdcube.