Squirrel Group to launch $5m private equity crowdfunding offer

nbr.co.nz

Mortgage broker and peer-to-peer lender Squirrel Group is launching a $5 million equity crowdfunding private offer today, in what’s likely to be its last capital-raising before an intended sharemarket listing next year.

The capital raised will be used to build its mortgage broking business, Squirrel Mortgages, and develop the country’s second peer-to-peer lending business, Squirrel Money, which launched in November last year. The offer effectively values the eight-year-old company at $22.9 million.

Equity crowdfunding platform Snowball Effect said the offer had received significant pre-registered interest from Squirrel’s network. Given it’s a private offer, details won’t be publicly available on the platform.

Read full press article