Crowdfunder smashes £500k fundraising target in just three hours
2 min read
24 April 2014
Rewards-based crowdfunding platform Crowdfunder UK yesterday smashed its fundraising target of £500,000 in just three hours.
15 minutes after going live on equity-based crowdfunding platform Crowdcube, Crowdfunder platform had already attracted £230,000, including a £150,000 investment from innovation charity Nesta. It has now raised £650,000 in total from more than 200 investors.
Crowdfunder MD Phil Geraghty said: “It’s been an awesome day – a massive endorsement of what we’ve been doing at Crowdfunder – and the sheer power of crowdfunding as a way to raise investment. I’d like to thank all of those who have backed our great idea – and our desire to turn more ideas into reality.
“Crowdfunder makes a great investment because we are a digital high-growth business in a fast growing market, but also we are really proud of the social and economic impact that we are having across the whole of the UK. We welcome the support we have received in helping us crowdfund the future.”
As a rewards-based platform, Crowdfunder allows businesses, other organisations and individuals to raise money in return for rewards, such as the first edition of a new product or invitation to an event.
It raised this money through Crowdcube, which is an equity-based platform, allowing investors to have a slice of ownership in the company.
Luke Lang, co-founder of Crowdcube, said: “It is a tribute to Crowdfunder and its team that it secured it £500k target in just over 3 hours, which sets a new record for the fastest equity crowdfunding raise ever. With investment form NESTA and more than 200 investors Crowdfunder is now well placed to take advantage of the growing crowdfunding market.”