If you run an equity-based crowd-funding site, where do you raise money to grow your company? If you are Crowdcube, you do it on your own platform – and raise the £1.2 million you want in a world-breaking 16 minutes!
141 investors providing an average of £8,500 each helped Crowdcube reach that target 12 times faster than the previous record holder. That’s £1,250 per second.
Crowdcube had already attracted £3.8m from venture capital firm Balderton Capital. The £5 million total will be used to open new offices, increase the staff count to 50 and to expand in international markets.
Darren Westlake, CEO and co-founder commented “We’re delighted to have given everyday investors the opportunity to invest in our fast growing business. This record-breaking fundraise from our crowd of registered investors at the same time as backing by an established VC firm is a huge thumbs up for our business, team and the growth path that we outlined.
“This record-breaking fundraise from our crowd of registered investors at the same time as backing by an established VC firm 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. Crowdcube is in a fantastic position to pursue our growth plans and continue to support both investors and small and growing businesses in their investment and finance requirements.”
