Manchester FinTech, Frost, announces it has closed its latest fundraising round

IN BRIEF:

Frost is an e-wallet provider putting the power back into the hands of consumers when dealing with household bills

Over a four-week-period, Frost raised £1.87m, achieving its target nine days ahead of schedule

184 investors contributed to the crowdfunding campaign, which closed just weeks after the announcement that Frost is now certified Carbon Neutral

What does this mean?

Speaking on the raise, Frost co-founder and CEO Pawel Oltuszyk said: “We’re proud to see our latest fundraising campaign completed ahead of time, and above target. In working alongside Seedrs, we’ve had the opportunity to introduce our company and its platform to new audiences and new investors, all of whom seem very impressed with what we have to offer. Now our focus shifts to utilising this raise in a manner that delivers extra value to our customers, as well as our investors. Across Britain, everyone is worried about the cost-of-living crisis but tools like Frost are helping to give individuals more power to fight back. Thankfully, this latest raise puts us in an even better position to go further in that effort and ultimately in helping more people deal with the economic realities of today.”