184 investors contributed to the crowdfunding campaign
Frost, a UK-based fintech, has raised £1.87m in a crowdfunded campaign via Seedrs.
The Manchester-headquartered fintech will use the funding to expand on its current money saving tools.
Alongside its Visa debit card, the Frost app compares tariffs for household bills and offers tools to manage money and savings.
Frost is planning to add a broadband switching feature as part of its offering this month.
Since the funding round launched on 27 March, 184 investors have contributed to Frost’s campaign.
Speaking on the company’s Seedrs campaign, Pawel Oltuszyk, co-founder and chief executive officer of Frost, 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.
“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.”