Wealthtech Prosper is celebrating a successful crowdfunding. It made its crowdfunding round open to the public on Crowdcube and raised its target of £600,000 in only four hours. It has now raised over £785,000 with the figure continuing to grow.

Supporters can contribute sums from £118 to £500,000. It says that it has set the threshold as low so “as many Prosper customers as possible can be part of the community disrupting wealth for the next generation”.

Prosper backers include Tom Blomfield, the founder and former CEO of digital bank Monzo. Blomfield said: “The crowdfunding community was vital to Monzo’s growth. It helped us engage with our early users. Like Monzo, Prosper is a customer champion brand shaking up the wealth industry. As I invested in Prosper, it became clear that speaking to the community would also play a part in their journey. It’s only the beginning, but I’m excited to help more people prosper!”

Monzo’s first crowdfunding campaign raised just under £1m at a £30m valuation. Today, that valuation stands at around £4bn. With a week of its own crowdfund still to go, Prosper hopes to build on that success.

“We’ve been blown away by the demand we’ve seen from our community. It’s a testament to the value we can create building a customer-championing business in the world of saving and investing,” said founder and CEO Nick Perrett.

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By GlobalData