Peer-to-peer lending platform JustUs has announced its ongoing second round of Crowdcube funding reached its £1.3 million target after three days.
The company previously raised £1.2 million after securing £600,000 through crowdfunding from private investors, which was then matched in convertible loan notes from the British Business Bank through its future fund initiative.
The new funding on Crowdcube will provide market growth support for new products including the People's Mortgage offering, set to be launched in the second quarter of 2021.
JustUs, which is owned by eMoneyHub, already provides the crowdfunded JustUs ISA for consumers.
The People’s Mortgage will offer investors the opportunity to fund 2.5 per cent fixed interest rate residential mortgages for homeowners, which are Innovative Finance ISA eligible.
JustUs also offers the bespoke loan service platform SBILS.co.uk - built in conjunction with Excluded UK - to offer alternative financial support to millions of businesses excluded from government loans and grants during the COVID pandemic.
The current crowdfunding page closes on 14 February 2021. Investors can pledge as little as £10 each for equal 8 per cent per annum returns.
eMoneyHub also owns price comparison site Moneybrain and runs the cryptocurrency BiPS.
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