New fintech-based startup, Upgrade Pack has exceeded its £500,000 fundraising target with leading European investment platform Seedrs. Since launching its crowdfunding campaign in March, the closed marketplace for discounted flight and hotel upgrades has attracted over 350 investors through the Seedrs community. With 25 days still left to run, the company is now overfunding.
Co-founded by Craig Unsworth (CEO) and Urchana Moudgil (COO), the milestone provides the Richmond-based startup, which marks its first year of operations this week, with a pre-money valuation of £12,750,000.Delivered as an app, Upgrade Pack’s closed marketplace technology helps banks and financial services companies to retain and reward high value customers with membership of its platform, where they can access exclusive and unlimited offers on flight and hotel upgrades.
The £500,000 is part of an overall £2.25m of investment sought, which will drive the company’s expansion into the USA and Asia. Prior to the campaign with Seedrs it had raised £1m in a pre-seed funding through private investors.
Craig Unsworth, Founder and Co-Founder and CEO of Upgrade Pack commented: “We have been thrilled with the response to our first crowdfunding campaign, and the anticipation around what we are creating. To reach this latest milestone on the week of our first birthday is especially rewarding. We’re now focused on our app’s imminent Beta launch to our founder members – which brings us closer towards our full launch later in the Spring.”
The Seedrs funding round is set to close in early May.