Crowdcube raise £1.2 million in 16 minutes as Glentham Capital proceeds with their second fund raise via Seedrs
This week the UK’s largest crowdfunding platform, Crowdcube, opened and closed their bid to raise £1.2 million to expand their company in just 16 minutes. This followed their having raised £3.8 million of investment from Balderton Capital last week.
Exeter based Crowdcube were backed by 141 investors and will use the funds raised to expand the company’s operations both in the UK and internationally.
Darren Westlake, who co-founded Crowdcube with Luke Lang in 2011, commented:
“This is the first time that any sizeable fundraise has meshed traditional and alternative finance methods and we expect to see more of this in the future”.
“Crowdcube is in a fantastic position to pursue our growth plans and continue to support both investors and small and growing businesses in their investment and finance requirements”.
Elsewhere, Pandora Edmiston, chief executive of Glentham Capital, informed The Steeple Times that her company’s second fundraise using the Seedrs crowdfunding platform has reached an impressive £160,000 of its £450,000 target with 43 days still remaining. This news comes despite a barrage of critical questions on the Seedrs platform directed at the company’s somewhat controversial founder, Nicola Horlick.
That Horlick – known in media circles as “Superwoman” as a result of her “balancing her high-flying finance career with bringing up six children” and for one of her company’s investments with the Ponzi schemer Bernie Madoff – has come under fire in the Q&A section of the Seedrs website is interesting. Investment via crowdfunding is something that remains very much unchartered water for the majority and that questions are being asked and answered can only be for the good of both those looking to partake and those seeking to raise funds.
Crowdfunding offers a great way for start-ups to get investment at a time when traditional fundraising methods have become more and more difficult. This is a sector that is expanding and it is something that, where properly managed and regulated, ought to be celebrated and welcomed.
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