Thursday, 16 May 2013

Crowdcube raise £1.5m in record breaking time

Darren Westlake and Luke Lang Crowdcube co-founders    
By Michael McDowell - Silicon Ireland Crowd Funding Editor

If further proof is needed to convince that equity crowd funding is growing in reputation as well investor confidence, Crowdcube have delivered it.  They used their own platform to raise £1.5 million in just three days from 259 investors. Existing investors met the initial funding target of £250,000 within the first five hours of the pitch going live, making it the fastest equity funding on a crowdfunding website anywhere in the world. The pitch was then opened up for others to invest with one million pounds being invested in the following 24 hours. The investment, which sets a new world record for funds raised via an equity crowdfunding platform, will be used to fuel Crowdcube’s next phase of growth.