Fiinu shares fell 13% for a second day as investors and market makers continued to react to Monday's fundraiser, which saw it bank £900,000.
Effectively, this has drawn a line under a sharp rally that had seen the stock advance 2,600% in the year to date.
And it appears to ignore the fact that stock was issued at a premium to the prevailing price, which tends to be a huge endorsement of the prospects for the business.
The new investment will provide additional working capital as the company prepares to launch its Plugin Overdraft product in the UK later this year with Conister Bank.
The service, which uses open banking and artificial intelligence to link overdraft facilities to existing current accounts, is seen as a potential disruptor in retail banking.
Fiinu said the issue price represents a 33% premium to a subscription completed in early September, suggesting healthy investor demand.
The new shares are expected to begin trading on AIM on 22 September.
The shares fell 2p to 13.5p.