Crowdfunding success stories: Crowdcube (Series B)
The UK equity crowdfunding platform which raised £1.2m investment in a record 16 minutes through its own site...
Setting a world record as the fastest “ever” equity crowdfunding investment, in July 2014 Crowdcube successfully closed its own £1.2m funding round within just 16 minutes of its campaign going live.
141 investors participated in the round to help the company complete its £5m Series B round; having already received £3.8m venture capital (VC) investment from Balderton Capital at the time.
Featured in the Startups 100 2014 and winner of the 2013 Startups Awards, Exeter-based Crowdcube enables investors to back innovative early-stage businesses in return for equity. The company recently launched a new service for entrepreneurs; the Sprint Programme, which looks to help seed-stage start-ups raise funding quicker with no legal or administration fees.
Since launch in 2011, Crowdcube has facilitated over £80m in funding to over 230 start-ups and its growth continues to ascent with many of the multi-million rounds profiled in this feature conducted via Crowdcube.
As the UK’s first equity crowdfunding platform, it’s fitting that the pioneering start-up broke the record for fastest pitch through its own site and its founders, 2013 Young Guns Luke Lang and Darren Westlake, said the investment evidenced the growing market for alternative funding:
“This […] is a huge thumbs up for our business, team and the growth path that we outlined. This is the first time that any sizeable fundraise has meshed traditional and alternative finance methods and we expect to see more of this in the future.”