WeSwap are crowdfunding! What does that mean and what’s in it for me?

Get involved here: http://weswap.seedrs.com/

Why are we crowdfunding?

Through our last two rounds of crowdfunding, more than 3,000 people invested their money in WeSwap. Since then, growth has been fantastic, and we now have more than half a million people using the WeSwap app.

Now we’re at the next stage in our journey - and we’d love to invite you all to be part of it again. As the people who - literally - power our business, we want to invite travellers to help shape our future and have the chance to share in our success.

We’ve already attracted over £24.7million in funding from a number of large investors (see “Who’s behind WeSwap”, below) but it’s really important to us that we're owned by our community and everyday travellers too.

As we gear up for further growth, we’ve earmarked a proportion of our equity for our customers and crowdfunding investors.

What is crowdfunding?

Crowdfunding is a way for individuals and organisations to raise money from a large number of people, and a way for the general public to invest in early-stage businesses they believe in. There are several different types of crowdfunding. WeSwap is today launching Investment crowdfunding (also called ‘equity crowdfunding’) with Seedrs, our longstanding crowdfunding partner, which involves buying part of a company. The part you own is called a ‘share’.

You’ll be one of many shareholders, along with other crowdfunders, investment firms and people working at the company.

If you’re new to crowdfunding, it’s important you understand all the risks as well as the potential benefits involved. We’d recommend you have a good read of Seedrs helpful guide, which will take you through all the ins-and-outs.  

Is there a minimum investment amount?

The exact minimum will be confirmed once the investment opens on Seedrs, but it will be around £10 - so it really is an opportunity for everyone to get involved and share in our success.

What do I get for investing in WeSwap?

The main thing is the opportunity to invest in our company, and share in our potential success. All investors get early access to new features through our Beta testing and WeSwap pioneers list, equity in the business and behind the scenes insight into our strategy.

There are also a few free swap perks not available to the wider public. 

These are:

  • Invest between £250 - £500: Your next 3-day swap free
  • £501 - £1,000: 6 months free 3-day swaps
  • £1,001 - £2,500: 12 months free 3-day swaps
  • £2,501 - £5,000: 24 months free 3-day swaps
  • £5,001 - £10,000: 36 months free 3-day swaps
  • Over £10,000: Free 3-day swaps for life

If you’ve invested before, your previous investments will count towards your total swap perks. So, if you invested £2,000 in total across our last two crowdfunding rounds, then invest £501 in this one, you will have invested £2,501 and qualify for 24-months of free swaps.

Free swap perks will be applied once the round is closed and we receive details of everyone’s investment from Seedrs. This can take several weeks, so please bear with us. Once the round is closed we’ll work to confirm more detailed timings.

Unfortunately, we won't be able to offer Shareholder Card designs as part of this round. We'd love to, but we're about to launch a brand new card design across the whole WeSwap world, and we'd be unable to properly support both. Stay tuned for more on the new design soon though!  

How do I invest?

We’re working with Seedrs.com, a leading equity crowdfunding platform, to bring you this round.

First, register your interest in the campaign. Just leave a few details at http://weswap.seedrs.com/

Then, once the campaign opens, you will receive an invitation to our investment page via the Seedrs.com platform. There you can see our full pitch and business plan. 

Before making an investment, you'll need to create an account on the Seedrs website at www.seedrs.com. To save a bit of time you might want to create an account on Seedrs beforehand.

How do I make a return on my money?

The main way you can make money from your investments is by selling your shares in WeSwap for more than you paid for them.

If WeSwap grows to the point where we float on a stock exchange (IPO) or if we’re bought by another company, you'll be able to sell your shares at that stage.

Seedrs also runs a monthly “secondary market”, where Seedrs investors can advertise shares they’d like to sell. Read more about how this works here: https://www.seedrs.com/secondary-market

Remember that investing in WeSwap is a long term investment in the future of our company. It’s important you understand all the risks as well as the potential benefits involved. We’d recommend you have a good read of Seedrs helpful guide, which will take you through all the ins and outs.  

When did WeSwap launch?

WeSwap was founded to make currency exchange cheap, fair and transparent for ordinary travellers everywhere. We launched the world’s first person-to-person travel money exchange in the summer of 2015.

Since then we’ve grown to over 500,000 travellers, who have exchanged more than £250 million pounds, and spent in a whopping 197 countries and territories worldwide. As always, a big thank you for your support. We couldn’t have done this without you.   

We're out to help all travellers everywhere make the most of their hard earned trips abroad. You can hear more about our vision, and how the idea of WeSwap was born, here.

Who is behind WeSwap?

Our CEO and founder Jared Jesner is a former financial professional from JP Morgan and a former senior project manager from Shell, where he led technology delivery projects around the world. We're proud to also have a highly experienced and dedicated senior team with deep experience across travel, technology and operations.

WeSwap is also backed by over £24.7million in investment from VC funds EC1 Capital, Ascot Capital and IW Capital and a team of angel investors, including LoveFilm and Zoopla co-founder Alex Chesterman.

How will the money be used?

The money from this round will be used to support further growth for WeSwap. As a business, we’re focussed on three key areas which we believe will bring the business to profitability and generate a return for our investors.

The first is launching in new international markets. We hope to launch in a brand new country before the end of the year.

The second is new products. Our award-winning card and app and our cash delivery service are well established in the UK; we’re now working on exciting new areas such as money transfers, fair lending for holidays, insurance and a subscription model.

And finally, our third focus is on new partnerships. We’re proud to be partnering with some great travel providers. We’re investing in this area even more in 2019 and beyond.

Where are you based?

WeSwap is based in London and is a UK limited company registered in England and Wales (No. 07189664). Our registered office is at Spectrum House, 32-34 Gordon House Road, London, NW5 1LP. Feel free to drop by!

How can I find out more about the company’s performance?

Once the campaign goes live on Seedrs.com you'll be able to view our investment pitch and download our business plan.

Is WeSwap eligible for EIS (Enterprise Investment Scheme)?

Unfortunately, this round of funding is not eligible for EIS.

 

I have more questions

Great! If it's about how crowdfunding works in general, the friendly team at Seedrs are best placed to help. Do reach out to them here

If you'd like to talk to us about WeSwap or why we're raising, our team will be happy to chat. Email us at crowdfunding@weswap.com

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