The crowdfunding platform Crowdcube, located in London, Exeter and Barcelona, is raising a new round of funding to help facilitate crowdfunding for more startups in Spain and the UK.
So far Crowdcube has raised £12.8 million, including £1.2 million from their members in 2014.
The platform has helped over 400 startups get funded and over 290,000 investors have participated in funding rounds.
Consolidate leadership in Spain
The round will start on the 18th of July, but investors can already register to join in.
Pepe Borrell, Director of Crowdcube Spain, says:
“This round of funding will serve to consolidate our leadership in the UK and Spain, a market in which there is still a long way to go.”
According to the company, this next round of funding will be the largest in industry history.
Not scared by Brexit
There has been a lot of uncertainty in the British startup ecosystem after the Brexit vote last week. However, Crowdcube CEO and cofounder Darren Westlake have faith in crowdfunding for the future of the UK:
“The UK’s growing investment crowdfunding market, which was estimated to be worth £245 million in 2015, is vibrant post-Brexit, with investment up 18% on Crowdcube after last week’s disappointing out vote it is clear that investor demand to back great British businesses is unwavering.”
Crowdcube made a loss of £4.8 million on a revenue of £2.7 million in the year to September 2015. That was up from a loss of £1.3 million in 2014 on revenue of £1 million.
Since Crowdcube started operating in Spain in July of 2014, the platform has channeled about €4.8 million to 28 companies. Currently, it’s in the process of registering at the Comisión Nacional del Mercado de Valores-CNMV as a platform for participatory funding and is one of the few platforms accredited by ACCIÓ.