Congratulations to Crowdcube – £1.2m in 16 minutes!
Crowdcube sets world record raising £1.2 million in 16 minutes
£1.2 million funded by the crowd completes £5 million funding round
Did you miss this – I did. I opened the email from Luke only to find the round had closed. One poor soul-be investor tried to invest only for the request to be denied.
Crowdcube raised £1.2 million in just 16 minutes from 142 investors. The minimum investment was £1,000 and the average investment was £8,500. This was 12 times faster than the previous record for the fastest crowdfunded pitch and set a world record for the fastest equity crowdfunding raise.
This followed the announcement last week of £3.8 million of investment from venture capital firm Balderton Capital.
Darren Westlake, CEO and co-founder comments, “We’re delighted to have the crowd investing alongside one of Europe’s leading VCs. The demand was unprecedented and is a fantastic endorsement that reflects our dominant position in the market. We’re relishing the opportunity to accelerate our growth and international expansion further.” Balderton Partner Tim Bunting, who will join Crowdcube’s board of directors said: “We love the way Crowdcube is disrupting and democratising investment into businesses seeking growth finance.” Balderton state that They “invest for the long haul – never ‘quick flips’ – and we look for companies with a similar perspective“.
Since it launched in 2011, Crowdcube has raised over £30 million for more than 130 start-up, early stage and growth businesses. More than half of this finance has been secured in the first half of 2014, demonstrating the accelerated growth for the innovative crowdfunding market, the willingness for people to invest in British businesses and the demand by businesses for seed and growth capital.
- Crowdcube has successfully crowdfunded two previous rounds on its own website raising £320,000 in 2011 and £1.5 million in 2013.
- January 2014 saw the launch of the first managed venture fund for crowdfunded equity investments.
- In June 2014 Crowdcube launched its Mini Bond product. River Cottage, raised £1 million in less than 36 hours and Chilango is overfunding at the moment at £1,324,000.
For further information on Crowdcube please contact:
Luke Lang, co-founder and chief marketing officer, Crowdcube
+ 44 (0)1392 241319 or +44 (0)7929 742229