Crowdcube amazes again – Reaches over £10M in funding

"In the first five months of 2013 it raised £4,400,000 for 20 businesses compared with £840,000 for 11 pitches in the equivalent period of 2012." - Photo Source: CrowdCube

“In the first five months of 2013 it raised £4,400,000 for 20 businesses compared with £840,000 for 11 pitches in the equivalent period of 2012.” – Photo Source: CrowdCube

Crowdcube amazes again by reaching another great milestone of successfully raising over £10 million in funding. In May 2013, the company managed to set a world record for raising £1.5 million in just three days via an equity crowdfunding platform.Founded in 2010, Crowdcube offers the opportunity for small businesses to showcase themselves in order to obtain funding from investors. This UK based company has more than 40,000 registered investors making it one of the pioneers in the world of crowdfunding.

The founder of Crowdcube, Darren Westlake, started the website by spending 3 years and using £100,000 from family and friends with the goal of creating a new platform for investment. He wanted to make investment opportunities accessible to entrepreneurs by tearing down the walls of corporate financing. Currently, Crowdcube is gradually expanding their business ventures to other countries such as Sweden, Poland, Middle East, and Brazil. They have over 50 different businesses on their website from various sectors asking for funding.

darren

When asked for the secret of their success, Darren Westlake and Luke Lang, the co-founder of Crowdcube, attributed their accomplishments to “perseverance, hard work and breaking over obstacles.” In order to successfully gain funding, their advice to entrepreneurs is “not to over complicate things making it difficult for investors to understand” and paying close attention to feedback. Crowdcube is a free equity crowdfunding platform for startups and investors to ask for funding on the website. For every successful fund-raising, Crowdcube will take a 5 percent cut. However, if a project does not reached its intended fund-raising goal, all the money will be returned to the investors.

For more information on investment opportunities or to be an investor, visit http://www.crowdcube.com/

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[Source: Nicole Chow @ CrowdFundBeat]

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