UK equity crowdfunding firm, CrowdCube, announced that it has achieved a key milestone, reaching £100 million in total funds investing on its platform since launching in 2011. The milestone was achieved thanks to a strong 2015, of which over £50 million for 109 businesses was raised to date this year. Altogether, since launching, 290 businesses have been funded, with an average crowdfunding campaign of £348,000.
In addition to doubling its previous investment total during 2015, the first exit of a CrowdCube campaign took place this year. E-Car Club, which had sold equity to investors in CrowdCube in 2013, was acquired by Europcar for an undisclosed sum in July of this year. While neither CrowdCube, E-Car Club nor Europcar provided Finance Magnates the profits accrued by crowdfunding investors, CrowdCube stated that there was a “multiple return on their investment following the sale of the business to Europcar.”
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In July, CrowdCube also announced that it was raising a £6 million round, with a portion being sold on its own platform and open to retail investors. The investment was led by Numis, a leading UK stockbroker and corporate advisor and included participation from Tim Draper and Esprit.
Announcing its milestone, CrowdCube also cited that stats from CrowdSurfer show that the firm held over 50% of equity crowdfunding investments in the UK between January to July.