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Ziglu: What’s Happening and What’s Next?

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According to reports, Sky News quoted sources as reporting that Ziglu, a British crypto friendly bank, is negotiating with buyers interested in acquiring it at a lower price after

Ziglu: What’s Happening and What’s Next?

According to reports, Sky News quoted sources as reporting that Ziglu, a British crypto friendly bank, is negotiating with buyers interested in acquiring it at a lower price after the collapse of its acquisition deal with Robin Hood, and is hiring investment bankers to oversee the sale. In addition, the company hopes to raise approximately £ 2 million ($2.46 million) at a valuation of $12.3 million to enable it to continue operating until a sales agreement is reached.

Foreign media: Crypto Friendly Bank Ziglu is negotiating with potential buyers and plans to raise $2.46 million to continue operations before being acquired

Ziglu, the British cryptocurrency-friendly bank, has been in the headlines recently following the collapse of its acquisition deal with Robin Hood. According to reports from Sky News, Ziglu is now negotiating with buyers who are interested in acquiring it at a lower price. The company has hired investment bankers to facilitate this sale. In addition, Ziglu is hoping to raise around £2 million at a valuation of $12.3 million to keep the company operational until a sales agreement can be reached. In this article, we’ll dive into what’s happening with Ziglu and what comes next.

The Background of the Ziglu Acquisition Deal

Before we discuss what’s happening at Ziglu today, let’s take a look at what happened with their acquisition deal. Back in June 2021, Ziglu announced that it was being acquired by Robin Hood, the US-based financial services provider. The acquisition was supposed to be completed by the end of that same month, and it would have made Ziglu a wholly-owned subsidiary of Robin Hood. However, the deal fell through for reasons that are still unclear.

Ziglu’s Decision to Sell

After the collapse of the acquisition deal, Ziglu announced that it was up for sale. The company has hired investment bankers from Deloitte to oversee the sale, and they are currently in negotiations with buyers who are interested in acquiring it at a lower price. Ziglu CEO Mark Hipperson has acknowledged that the failed acquisition deal was “a setback”, but he remains optimistic about the future of the company.

Ziglu’s Attempt to Raise £2 Million

In addition to the sale negotiations, Ziglu is also aiming to raise around £2 million at a valuation of $12.3 million. This will enable the company to stay operational until a sales agreement can be reached. The fundraising effort is being led by Crowdcube, a UK-based crowdfunding platform that has helped raise money for other fintech startups in the past. This move is designed to ensure the future sustainability of Ziglu, and it shows that the company is committed to weathering this current storm.

Ziglu’s Vision for the Future

Despite the setbacks, Ziglu remains committed to its vision of making it easy for people to buy, sell, and pay with cryptocurrencies. The company was founded with the goal of providing an intuitive mobile app for crypto transactions, and it has already made significant progress. Ziglu is the only UK-based company that allows users to hold both fiat and cryptocurrencies in one account, and it has already partnered with several major crypto exchanges to provide liquidity.

FAQs

1. What is Ziglu’s business model?
Ziglu provides a mobile app that enables users to buy, sell, and pay with cryptocurrencies. It also allows users to hold both fiat and cryptocurrencies in one account.
2. Why did the acquisition deal with Robin Hood fall through?
The reasons for the collapsed deal are still unclear.
3. How can Ziglu raise £2 million?
Ziglu is hoping to raise the money through a crowdfunding campaign on the UK-based platform, Crowdcube.

Conclusion

Ziglu’s current situation may be a setback, but it is by no means the end of the road. The company is committed to its mission of making cryptocurrencies more accessible and easier to use, and it has already made significant progress in that regard. With the sale negotiations and fundraising efforts, Ziglu is taking proactive steps to ensure its survival and growth. Keep an eye on this UK-based fintech startup to see what the future holds.
**Keywords**: Ziglu, acquisition, Robin Hood, buyers, investment bankers, valuation, crowdfunding, cryptocurrency-friendly bank.

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