Any other business
Crowdcube's Sprint Programme to provide British startups with seed investments
2 min read
23 March 2015
The new Sprint Programme from Crowdcube is designed to support UK seed-stage businesses with funds of between £20,000 and £150,000.
This latest development follows an interview Real Business had with JustPark on 17 March, when it was revealed the car parking tech firm had generated £3.7m of investment through Crowdcube, which marked the crowdfunding platform’s largest round to date.
The Sprint Programme is now dedicated solely on investments at the lower end, claiming to deliver early stage startups a quicker and more cost effective route to secure investment from the Crowdcube investor community, which now boasts 150,000 people.
The company supported its scheme with research that recently found seed-stage deals via equity crowdfunding channels rose from five per cent to 30 per cent between 2011 and 2014.
With rounds of between £20,000 and £150,000 supported through Sprint, almond milk drink company The Pressery, which sells products in locations such as Selfridges, is one of the early programme adopters. Indeed, it proved the value of the scheme by securing its £150,000 target in under two hours from 58 people – one of whom contributed £30,000.
The Pressery co-founder, Natali Stajcic, said: “We are delighted with the response from Crowdcube members towards our pitch and can’t quite believe we reached our target in under two hours. The Sprint Programme appealed to us because we felt very ready for the next phase of our business and it pushed us to get there quickly.”
Read more on crowdfunding:
- UK’s top inventors hunted by Worth Capital and Channel 5’s The Gadget Show
- Camden Town Brewery: The London beer brand building an empire
- Oppo: The overfunded ice cream startup with world record-breaking founders
Luke Lang, co-founder of Crowdcube, explained: “Since launching in 2011, our investor base has invested over £70 million funding over 205 businesses. One in every five businesses is a pure startup, accounting for £19 million of the funded total.
“We want to continue building on that track record of success with a streamlined process to make raising finance even more accessible for budding entrepreneurs who want to turn their business idea into a reality.”