Interviews

Crowdcube on European growth mission in partnership with WeWork

3 min read

22 May 2017

Former deputy editor

Crowdfunding meets co-working as Crowdcube has tied up with WeWork to achieve its European growth ambitions, with the US and Far East also in sight.

With a presence in Exeter, London and Manchester in the UK, as well as in Spain, the firm now plans for European growth, which is will seek to achieve in partnership with co-working space operator WeWork.

The equity crowdfunding platform has outlined plans to open offices in Paris and Amsterdam this summer as part of the European growth strategy, while other cities across the continent are being assessed at present.

Crowdcube currently has 390,000 members and WeWork has a global community of 100,000 – a number that’s inclusive of many startups and growing SMEs in Europe.

As such, the deal will see Crowdcube provide WeWork members with a crowdfunding education through one-to-one meetings, office discussions and events. Meanwhile, companies in Crowdcube’s “funded club” will receive discounted rates for WeWork office space.

According to Crowdcube, there are three reasons behind the European growth ambition:

(1) There has been growing demand from startups in Europe that desire British investment.

(2) An increasing amount of European investors joining Crowdcube funding rounds.

(3) UK investors are looking beyond Britain’s borders to grow their investment opportunities.

“Following a record breaking start to the year with £23 million raised for companies in the first quarter, we are unrivalled across Europe,” declared Matt Cooper, chief commercial officer at Crowdcube.

“We already have tens of thousands of investors from outside the UK who have invested close to £25 million on our platform.

“By partnering with WeWork we can fast track our growth plans via their co-working hubs which are based in prime locations and attract business that want to engage with us understand how crowdfunding can support their ambitions.”

He also noted that the partnership for European growth will also lead to expansion into the US and Far East.

Crowdcube already has experience working alongside WeWork members, with a portion of co-working companies raising a total of £15m. Boutique fitness business 1Rebel is a prime example of a WeWork business that has prospered with Crowdcube, having raised £4.5m on the platform.

In addition to European growth plans, Crowdcube will also be a partner in the UK for the WeWork Labs scheme. This will see startups in London given similar mentor treatment that will be offered to European counterparts.

Benjamin Samuels, WeWork’s director of enterprise sales for Europe & Israel, added: “There are many synergies between our two businesses: we are both disruptive companies and leaders in our space, working with highly ambitious companies and ‘creators’.

“We also understand the importance of building strong eco-systems to allow these businesses to grow and thrive. We look forward to welcoming Crowdcube members and their ‘funded club’ companies into our community.”