Crowdcube has raised £1.5 million through what it describers as a new world record for funds raised via an equity crowdfunding platform. Founded in February 2011, Crowdcube allows businesses to showcase themselves and secure growth capital from a large group of investors.
Crowdcube says it first set out to raise £250,000 but, having raised that within the first five hours, made it live for a further three days to raise the rest of the amount. In total, 259 investors contributed to the round.
When Crowdcube last tried to raise capital through its own service it raised £320,000 from 162 investors. However, the process took seven days longer than its latest attempt. By securing £1.5 million in return for a 21 per cent equity stake in the business, Crowdcube now has a value of £7.1 million.
via Crowdcube values itself at £7.1 million after ‘world record’ three-day fundraising.
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