Crowdfunder, the Cornish rewards-based crowdfunding platform, has launched a £1m fundraising through Crowdcube. In order to expand operations and link-up with new partners – which currently include JCDecaux, Virgin StartUp, and Not on The High Street – the crowdfunding platform plans to create 50 new jobs.
“This market is growing enormously and we are looking to satisfy our potential”, said Crowdfunder Chairman Rob Love. “With this investment, we want to grow the company by six times and help over 150,000 projects across the next three years”.
Crowdcube is one of the world’s leading equity crowdfunding platforms. Crowdfunder, though, has just been awarded ‘Largest Crowdfunding Platform in the UK’, after closing more projects in 2015 than any other platform (according to global crowd data source: Crowdsurfer). Just under two and a half thousand projects have been completed on the site since January this year.
“Since 2012, we’ve grown Crowdfunder by a factor of 10, raising over £10m for thousands of businesses, social enterprises, charities, and individuals across the UK” said Phil Geraghty, managing director of the platform. “We currently have 975 projects looking for £12.4m on the site. This investment would enable us to turn more of those ideas into reality”.
During its last round Crowdfunder raised its £500k target in under three hours. The crowdfunding platform received backing from 367 investors, including innovation charity Nesta.