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Cringle looking for ‘new money’ through second crowdfunding campaign

 

German FinTech Cringle, the developer of mobile P2P-payment solutions, has returned to Companisto and has released its second equity crowdfunding round, following their first successful equity funding back in 2016. With this Series B crowdfunding campaign, Cringle aims to raise at least €600,000 for 9.09% equity offered.

Since launching the second equity crowdfunding campaign, Cringle, which is currently valued at 6 million euros, has already raised €175.500 from 288 investors, called Companists. Their largest investment to date is €10,000. Still, with only 37 days left to invest, there is certainly a huge gap to be closed before reaching their goal. On the other hand, Cringle may rely on the mantra ‘it ain’t over ‘till the deadline has passed’. Earlier investments in FinTech has already proven that.

 

First crowdfunding campaign exceeded expectations

Cringle confirmed to have positive experiences with Companisto, as being the first FinTech-company to carry out an equity-based crowdfunding campaign on their platform. This successful equity crowdfunding campaign, back in 2016, completed Cringle’s financial goal 200% ahead of their target, thanks to more than 1400 Companists.

 

P2P-payments to any cellphone, without using IBAN

Cringle, a German FinTech start-up founded in 2014, used the investment to further develop their mobile payment solutions and is currently a reliable partner for many banks and app providers in Europe. With the Cringle technology, users are able to immediately send money securely and reliably to friends across Europe, just as simple as sending a text message, without using an IBAN.

Leading online banks, such as DKB and Consorsbank, as well as personal financial advisors, such as Deutsche Vermögensberatung (DVAG), already rely on Cringle and actively offer more than 10 million of their customers to use Cringle as a payment solution. Well-known investors, Axel Springer, Yabeo Capital and Michael Brem are among Cringle’s strategic funders.

 

Established as Europe’s leading P2P-provider

Since launching over 3.5 million euros have been sent via Cringle, with a monthly growth of more than 10%, the FinTech-platform seeks to establish itself as Europe’s leading provider of mobile payments between private individuals.

Funding from this campaign will be used to implement pending partnerships, create new international partnerships and implement planned, innovative payment solutions with current partners.

Cringle’s Companisto campaign has an option to extend until 22 December 2017.