Funding
Smarter Web Raises £10M in Share Offering
Smarter Web, a UK Bitcoin Treasury firm, has successfully raised £10 million ($13.2 million) in a share offering of preferred shares. The offering was partially funded by retail investors, who contributed approximately 75% of the total funds. Institutional demand was described as 'disappointing' by CEO Andrew Webley. The company plans to utilize the proceeds for working capital, Bitcoin purchases, and operational costs. Smarter Web aims to issue its first weekly dividend from the preferred shares by November 9.