Manchester fintech Frost has successfully raised £1.87 million through a crowdfunding campaign on Seedrs.
Frost is an e-wallet provider designed to connect users with utility providers, helping them save on household bills. The company’s platform allows subscribers to gain better control over their finances and comes with a dedicated Visa Debit Card linked to their accounts.
During the month-long crowdfunding campaign, 184 investors contributed, garnering a total 12.2% equity stake in the company.
Frost plans to use the raised funds to implement new features, including broadband switching and carbon comparison ratings, which will empower users to make more informed, sustainable, and cost-effective decisions when choosing between providers.
Pawel Oltuszyk, co-founder and CEO of Frost, stated: “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 help more people deal with the economic realities of today.”