Two private equity firms are using the equity crowdfunding model to both raise funds and to obtain consumer acceptance of a new digital credit card.
JaJa is on the United Kingdom platform Seedrs and has raised “almost £3.1m, bringing onboard 760 investors from across 32 countries.”
The card, which is on the VISA system, provides almost instant credit, runs from a mobile phone app, is linked to your bank account and helps clients manage their debts by moving them to lower interest installment loans.
The “card” is to launch shortly. Interesting to see private equity seeking outside “unwashed” investors. (No endorsement implied).