Crowdcube “first” platform to facilitate £100m in start-up funding
Crowdfunding platform's investors have seen returns in excess of £600,000 already this year with 290 businesses having used the site to raise finance
Crowdcube, featured among the top 100 UK start-ups, has announced that it has become the first crowdfunding platform to facilitate £100m in start-up funding after early-stage invoicing app Powered Now took it through the “investment ceiling” in an oversubscribed round.
Founded in 2011 by Young Gun Luke Lang and Darren Westlake, Exeter-based Crowdcube was one of the front runners in introducing equity-based crowdfunding to the UK as an alternative to traditional finance, and has helped 290 businesses secure funding from the crowd to date.
In this year alone 109 businesses – including 14 overseas companies – have collectively raised more £50m through the site and the site now boasts 200,000 registered investors; more than 70,000 of whom signed up this year.
Following the equity sale of E-Car Club to Europcar in July and mini-bond schemes including bonds for the Eden Project and River Cottage, Crowdcube’s investors have received an estimated £600,000 in financial returns so far this year.
Westlake commented: “Funding more than £100m from our growing investor community of 200,000 are significant landmarks for investment crowdfunding.
“Enabling people to invest in some of Britain’s brightest companies, alongside world-renowned venture capital firms and acclaimed angel investors, on Crowdcube is now commonplace. Crowdfunding is now sitting alongside venture capital, angel investing and traditional debt financing as a mainstream channel for funding rather than an ‘alternative’.”
Find out more about Crowdcube’s success story here.