Crowdcube announces 500% increase in funding for UK start-ups
The crowdfunding platform has raised £4.4m for 20 businesses this year
The world’s first equity-based crowdfunding platform, Crowdcube, has announced a significant increase of 500% in the amount of capital raised this year for start-ups on its site compared to 2012.
Launched in 2011, the platform, which aims to help UK businesses secure finance, claims that in January to May of this year it has raised £4.4m for 20 businesses in contrast to £840,000 for 11 businesses in the same period in 2012.
Of 25 successful pitches this year, 14 were for £100,000 or more, including a £500,000 investment for the private members club Rushmore Group and £400,000 for the online legal service Lawbit.
Listed on our Startups 100 of 2012, the company claims that since its launch it has raised nearly £9m for over 50 businesses with over 36,000 investors registered on the site.
The announcement follows the platform’s recent investment success having secured £1.5m in three days through its own website.
Co-founder of Crowdcube, Luke Lang commented on its recent growth:
“That’s a whopping 524% increase and we’re only at the start of June! In fact, we funded 25 pitches for a total of £2.7 million during the whole of last year – that’s a huge leap and we’ve smashed our targets.
“It’s fantastic to see the model taking off like this in the UK. We’re excited about the next phase of our growth at home and abroad.”
To find out more about crowdfunding and how it works, visit our dedicated crowdfunding channel.